USA Rare Earth (NASDAQ:USAR) Trading Up 7.6% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares rose 7.6% on Thursday . The company traded as high as $24.95 and last traded at $24.29. Approximately 17,618,371 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 18,644,092 shares. The stock had previously closed at $22.57.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wedbush increased their target price on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Roth Mkm set a $30.00 price objective on USA Rare Earth in a research report on Monday, April 20th. Northland Securities assumed coverage on USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Cantor Fitzgerald boosted their target price on shares of USA Rare Earth from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, USA Rare Earth has an average rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Stock Performance

The stock’s 50-day moving average price is $20.37 and its 200-day moving average price is $18.49. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -6.45 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. Analysts anticipate that USA Rare Earth Inc. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in USAR. Ascentis Independent Advisors purchased a new stake in shares of USA Rare Earth in the 1st quarter worth about $27,000. Larson Financial Group LLC grew its stake in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after acquiring an additional 1,433 shares during the last quarter. National Bank of Canada FI increased its holdings in 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 valued at $36,000 after acquiring an additional 1,100 shares in the last quarter. KBC Group NV acquired a new position in USA Rare Earth during the first quarter worth about $35,000. Finally, NewEdge Advisors LLC raised its position in USA Rare Earth by 158.2% during 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.

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.