USA Rare Earth (NASDAQ:USAR) Shares Up 8.3% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was up 8.3% during trading on Wednesday . The stock traded as high as $24.49 and last traded at $23.55. Approximately 19,648,352 shares traded hands during trading, an increase of 6% from the average daily volume of 18,452,348 shares. The stock had previously closed at $21.74.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Canaccord Genuity Group raised their price target 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. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Northland Securities assumed coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target for the company. Finally, Wedbush raised their price target 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. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Stock Performance

The firm’s 50 day moving average price is $23.12 and its two-hundred day moving average price is $19.73. The company has a market cap of $5.25 billion, a P/E ratio of -6.01 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data 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 company had revenue of $5.70 million during the quarter. As a group, analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of USA Rare Earth

Several hedge funds have recently modified their holdings of USAR. Bayshore Capital Advisors LLC bought a new stake in shares of USA Rare Earth in the 4th quarter valued at $102,378,000. Vanguard Group Inc. increased its stake in USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in USA Rare Earth by 44.0% during 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. Inflection Point Holdings II LLC bought a new stake in USA Rare Earth during the 4th quarter valued at $37,188,000. Finally, State Street Corp increased its stake in USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter.

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.