USA Rare Earth (NASDAQ:USAR) Shares Up 1.7% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares rose 1.7% during trading on Wednesday. The company traded as high as $10.35 and last traded at $10.23. 7,844,476 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 15,930,326 shares. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USAR. Needham & Company LLC decreased their target price on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Roth Capital cut their price objective on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Stock Up 1.7%

The company has a market cap of $2.50 billion, a price-to-earnings ratio of -4.21 and a beta of 2.66. The firm has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $19.05.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. As a group, research analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in USA Rare Earth by 80.6% during the third quarter. Nisa Investment Advisors LLC now owns 7,168 shares of the company’s stock worth $101,000 after purchasing an additional 3,199 shares in the last quarter. IFP Advisors Inc boosted its position in shares of USA Rare Earth by 26.0% in the 3rd quarter. IFP Advisors Inc now owns 85,578 shares of the company’s stock worth $1,205,000 after buying an additional 17,682 shares in the last quarter. Gunderson Capital Management LLC purchased a new stake in shares of USA Rare Earth in the third quarter valued at about $147,000. GAMMA Investing LLC increased its position in USA Rare Earth by 55.2% during the third quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock worth $81,000 after buying an additional 2,042 shares in the last quarter. Finally, Overbrook Management Corp purchased a new stake in shares of USA Rare Earth in the third quarter valued at $3,145,000.

About USA Rare Earth

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.