USA Rare Earth (NASDAQ:USAR) Trading Up 9% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) rose 9% during trading on Tuesday . The stock traded as high as $17.61 and last traded at $17.28. 13,624,242 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 16,932,818 shares. The stock had previously closed at $15.86.

Analyst Ratings Changes

Several brokerages have recently weighed in on USAR. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Needham & Company LLC lowered their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of USA Rare Earth in a research report on Thursday, June 4th. Northland Securities assumed coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Wedbush upped their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Price Performance

The company has a market cap of $3.85 billion, a P/E ratio of -4.41 and a beta of 2.55. The company has a 50 day moving average of $20.50 and a 200-day moving average of $20.52.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. Research analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bayshore Capital Advisors LLC bought a new position in shares of USA Rare Earth in the 4th quarter worth $102,378,000. Vanguard Group Inc. raised its position in shares of USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares during the last quarter. Inflection Point Holdings II LLC bought a new stake in shares of USA Rare Earth during the 4th quarter worth $37,188,000. Finally, State Street Corp grew its position in USA Rare Earth by 78.4% in the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after acquiring an additional 2,212,177 shares in the last quarter.

USA Rare Earth Company Profile

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.