USA Rare Earth (NASDAQ:USAR) Trading Up 9.6% – Should You Buy?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 9.6% during trading on Tuesday . The company traded as high as $28.62 and last traded at $27.73. Approximately 23,368,956 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 18,702,982 shares. The stock had previously closed at $25.30.

Analyst Ratings Changes

A number of research firms recently issued reports on USAR. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Cantor Fitzgerald raised their price objective on shares of USA Rare Earth from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Canaccord Genuity Group raised their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Wedbush raised their price objective 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. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

USA Rare Earth Stock Up 5.6%

The firm has a market cap of $6.29 billion, a PE ratio of -7.19 and a beta of 2.38. The firm’s fifty day simple moving average is $20.96 and its two-hundred day simple moving average is $18.80.

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

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new position in USA Rare Earth during the first quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after purchasing an additional 1,433 shares in the last quarter. National Bank of Canada FI lifted its holdings in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares in the last quarter. KBC Group NV purchased a new position in USA Rare Earth during the first quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC lifted its holdings in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 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.