USA Rare Earth (NASDAQ:USAR) Trading 2.6% Higher – Time to Buy?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) rose 2.6% on Tuesday . The company traded as high as $21.70 and last traded at $21.58. Approximately 8,900,003 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 18,147,879 shares. The stock had previously closed at $21.04.

Analysts Set New Price Targets

Several research firms recently commented on USAR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price objective on shares of USA Rare Earth in a research report on Thursday, June 4th. Benchmark restated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Canaccord Genuity Group lifted their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Needham & Company LLC began coverage on shares of USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 target price for the company. Finally, Northland Securities initiated 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 on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Stock Performance

The business has a fifty day simple moving average of $24.18 and a 200 day simple moving average of $20.20. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -5.51 and a beta of 2.33.

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 company had revenue of $5.70 million during the quarter. On average, equities research analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

Several hedge funds have recently modified their holdings of USAR. Tudor Investment Corp ET AL acquired a new position in shares of USA Rare Earth in the third quarter valued at approximately $8,304,000. Jennison Associates LLC purchased a new position in shares of USA Rare Earth during the fourth quarter valued at approximately $1,586,000. JPMorgan Chase & Co. acquired a new stake in USA Rare Earth during the third quarter worth approximately $734,000. Sovran Advisors LLC boosted its position in USA Rare Earth by 119.7% during the fourth quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock worth $5,828,000 after acquiring an additional 266,783 shares during the last quarter. Finally, Kercheville Advisors LLC grew its stake in USA Rare Earth by 272.0% in the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock worth $443,000 after acquiring an additional 27,200 shares during the period.

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.