USA Rare Earth (NASDAQ:USAR) Trading Up 7.6% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was up 7.6% during mid-day trading on Friday . The stock traded as high as $12.85 and last traded at $12.81. Approximately 1,058,773 shares were traded during trading, a decline of 89% from the average daily volume of 9,512,856 shares. The stock had previously closed at $11.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on USAR. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday. Benchmark restated a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. William Blair started coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating on the stock. Canaccord Genuity Group lifted their target price on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research note on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Price Performance

The stock has a market cap of $1.80 billion, a PE ratio of -26.08 and a beta of 0.97. The business has a fifty day moving average of $15.45 and a 200-day moving average of $16.20.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in USAR. Alyeska Investment Group L.P. raised its holdings in shares of USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after purchasing an additional 3,909,455 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in shares of USA Rare Earth during the third quarter valued at approximately $13,554,000. Newtyn Management LLC purchased a new position in USA Rare Earth during the first quarter valued at approximately $4,114,000. Geode Capital Management LLC raised its stake in USA Rare Earth by 2,437.5% in the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after buying an additional 627,545 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in USA Rare Earth in the third quarter worth approximately $8,304,000.

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.