USA Rare Earth (NASDAQ:USAR) Shares Up 8% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 8% on Wednesday . The stock traded as high as $18.77 and last traded at $18.35. 14,856,651 shares traded hands during trading, a decline of 19% from the average session volume of 18,239,791 shares. The stock had previously closed at $16.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on USAR. Canaccord Genuity Group reduced their price target on shares of USA Rare Earth from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Roth Mkm set a $25.00 target price on USA Rare Earth and gave the stock a “buy” rating in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Friday, March 27th. Cantor Fitzgerald increased their price target on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Benchmark began coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They issued a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.67.

USA Rare Earth Stock Performance

The stock has a market cap of $4.00 billion, a PE ratio of -6.12 and a beta of 1.34. The stock has a fifty day moving average price of $18.41 and a 200 day moving average price of $18.83.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million during the quarter.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco bought 1,300 shares of the stock in a transaction dated Thursday, January 29th. The stock was purchased at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the acquisition, the director owned 1,300 shares of the company’s stock, valued at $29,380. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Blitzer purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were purchased at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the completion of the acquisition, the director directly owned 847,500 shares in the company, valued at $18,170,400. The trade was a 13.38% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 46.60% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently bought and sold shares of USAR. Caitong International Asset Management Co. Ltd purchased a new stake in USA Rare Earth in the fourth quarter worth $39,000. Virtu Financial LLC purchased a new stake in shares of USA Rare Earth during the fourth quarter valued at $832,000. Invesco Ltd. grew its holdings in shares of USA Rare Earth by 25.2% in the fourth quarter. Invesco Ltd. now owns 67,592 shares of the company’s stock worth $804,000 after purchasing an additional 13,598 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of USA Rare Earth by 33.8% in the fourth quarter. XTX Topco Ltd now owns 53,349 shares of the company’s stock worth $635,000 after purchasing an additional 13,466 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new position in USA Rare Earth in the 4th quarter worth about $284,000.

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.