USA Rare Earth (NASDAQ:USAR) Trading Up 5.6% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was up 5.6% on Thursday . The company traded as high as $28.59 and last traded at $28.19. Approximately 14,908,593 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 18,626,475 shares. The stock had previously closed at $26.70.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on USAR shares. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group lifted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Cantor Fitzgerald lifted their price objective on shares of USA Rare Earth from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a research note on Monday, April 20th. Finally, Wedbush lifted their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Stock Performance

The business’s 50-day moving average price is $21.15 and its 200 day moving average price is $18.86. The stock has a market capitalization of $6.25 billion, a PE ratio of -7.15 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. As a group, equities research analysts predict that USA Rare Earth Inc. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after acquiring an additional 829 shares during the last quarter. Pier 88 Investment Partners LLC lifted its holdings in shares of USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock worth $413,000 after acquiring an additional 840 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after acquiring an additional 936 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of USA Rare Earth by 2.0% during the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after acquiring an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of USA Rare Earth by 110.0% during the 3rd 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.

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.