USA Rare Earth (NASDAQ:USAR) Trading 17.5% Higher – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares rose 17.5% during mid-day trading on Thursday . The company traded as high as $23.85 and last traded at $22.71. Approximately 30,752,499 shares traded hands during mid-day trading, an increase of 102% from the average daily volume of 15,209,055 shares. The stock had previously closed at $19.33.

Wall Street Analyst Weigh In

USAR has been the subject of a number of research analyst reports. Benchmark started coverage on USA Rare Earth in a report on Wednesday. They set a “buy” rating for the company. William Blair assumed coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Roth Mkm set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Up 17.5%

The business has a 50-day moving average price of $15.10 and a 200-day moving average price of $16.77. The firm has a market capitalization of $3.01 billion, a P/E ratio of -43.67 and a beta of 0.96.

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

Institutional Trading of USA Rare Earth

Several institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its stake in USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after purchasing an additional 1,032 shares during the period. National Bank of Canada FI grew its stake in shares of USA Rare Earth by 110.0% in the 3rd 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 during the period. NewEdge Advisors LLC raised its holdings in shares of USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of USA Rare Earth by 73.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock worth $79,000 after buying an additional 1,949 shares in the last quarter. Finally, Osaic Holdings Inc. bought a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $38,000.

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.