USA Rare Earth (NASDAQ:USAR) Trading 13% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded up 13% during trading on Wednesday . The stock traded as high as $22.75 and last traded at $22.57. 18,924,322 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 18,665,320 shares. The stock had previously closed at $19.97.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark assumed coverage on USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating on the stock. Cantor Fitzgerald boosted their price objective on USA Rare Earth from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Northland Securities began coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

USA Rare Earth Stock Up 13.0%

The company has a fifty day moving average price of $20.13 and a 200-day moving average price of $18.39. The stock has a market capitalization of $4.92 billion, a P/E ratio of -5.76 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. As a group, research analysts expect that USA Rare Earth Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in shares of USA Rare Earth by 32.2% in the 1st quarter. Janus Henderson Group PLC now owns 34,456 shares of the company’s stock valued at $521,000 after purchasing an additional 8,387 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of USA Rare Earth by 150.9% in the 1st quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock valued at $1,756,000 after purchasing an additional 69,787 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of USA Rare Earth by 46.5% in the 1st quarter. Royal Bank of Canada now owns 98,399 shares of the company’s stock valued at $1,489,000 after purchasing an additional 31,245 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of USA Rare Earth in the 1st quarter valued at approximately $7,038,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of USA Rare Earth by 106.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 97,802 shares of the company’s stock valued at $1,480,000 after purchasing an additional 50,409 shares during 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.