Analysts Set USA Rare Earth Inc. (NASDAQ:USAR) Target Price at $36.83

Shares of USA Rare Earth Inc. (NASDAQ:USAR) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $35.8333.

USAR has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Wedbush increased their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research report on Thursday, June 4th. Canaccord Genuity Group lifted their target price on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Needham & Company LLC reduced their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB acquired a new position in USA Rare Earth during the 2nd quarter valued at about $1,612,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of USA Rare Earth in the 2nd quarter worth approximately $200,000. FNY Investment Advisers LLC boosted its holdings in shares of USA Rare Earth by 51,400.0% in the second quarter. FNY Investment Advisers LLC now owns 30,900 shares of the company’s stock valued at $666,000 after acquiring an additional 30,840 shares in the last quarter. GK Wealth Management LLC bought a new position in shares of USA Rare Earth in the second quarter valued at approximately $531,000. Finally, GAMMA Investing LLC boosted its holdings in shares of USA Rare Earth by 98.9% in the second quarter. GAMMA Investing LLC now owns 3,696 shares of the company’s stock valued at $80,000 after acquiring an additional 1,838 shares in the last quarter.

USA Rare Earth Stock Down 5.8%

USAR stock opened at $14.06 on Wednesday. USA Rare Earth has a fifty-two week low of $10.91 and a fifty-two week high of $43.98. The firm’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $20.59. The stock has a market cap of $3.14 billion, a PE ratio of -3.59 and a beta of 2.45.

USA Rare Earth (NASDAQ:USAR) last issued 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 firm had revenue of $5.70 million during the quarter. Equities analysts forecast that USA Rare Earth will post -0.35 EPS for the current fiscal year.

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.