USA Rare Earth (NASDAQ:USAR) Trading Up 13% – Should You Buy?

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

Wall Street Analyst Weigh In

Several analysts have recently commented on USAR shares. Roth Mkm set a $30.00 target price on shares of USA Rare Earth in a research note on Monday, April 20th. Cantor Fitzgerald increased their price target on shares of USA Rare Earth from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Canaccord Genuity Group increased their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Wedbush increased their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Northland Securities started coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

USA Rare Earth Stock Performance

The stock’s fifty day moving average price is $20.28 and its 200-day moving average price is $18.45. The firm has a market cap of $5.50 billion, a PE ratio of -6.45 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. Sell-side analysts forecast 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

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