USA Rare Earth (NASDAQ:USAR) Shares Up 9.7% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded up 9.7% during mid-day trading on Wednesday . The stock traded as high as $18.47 and last traded at $18.28. 15,866,447 shares traded hands during trading, an increase of 26% from the average session volume of 12,547,488 shares. The stock had previously closed at $16.67.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on USAR shares. Canaccord Genuity Group boosted their target price on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. UBS Group reissued a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a report on Friday, October 10th. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Finally, William Blair assumed coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, USA Rare Earth presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Stock Up 9.7%

The firm has a 50-day simple moving average of $14.96 and a 200 day simple moving average of $16.49. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -35.15 and a beta of 0.96.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. boosted its stake in shares of USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after buying an additional 3,909,455 shares during the period. Altfest L J & Co. Inc. purchased a new stake in USA Rare Earth during the 3rd quarter valued at approximately $13,554,000. Geode Capital Management LLC raised its stake in USA Rare Earth by 2,437.5% during the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after acquiring an additional 627,545 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in USA Rare Earth during the 3rd quarter worth approximately $8,304,000. Finally, Millennium Management LLC purchased a new position in shares of USA Rare Earth in the 3rd quarter valued at approximately $7,966,000.

About USA Rare Earth

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.