USA Rare Earth (NASDAQ:USAR) Trading 9.3% Higher – Should You Buy?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) traded up 9.3% during mid-day trading on Wednesday . The company traded as high as $21.88 and last traded at $21.8320. 7,647,938 shares changed hands during trading, a decline of 59% from the average session volume of 18,530,711 shares. The stock had previously closed at $19.97.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USAR. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday. Wedbush increased their target price 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. Cantor Fitzgerald increased their target price 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. Northland Securities began coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Canaccord Genuity Group increased their target price 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. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Price Performance

The stock has a market cap of $4.90 billion, a P/E ratio of -5.75 and a beta of 2.38. The business’s 50 day simple moving average is $20.13 and its 200 day simple moving average is $18.39.

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

Institutional Trading of USA Rare Earth

Hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in shares of USA Rare Earth during the third quarter worth approximately $8,304,000. Jennison Associates LLC acquired a new stake in shares of USA Rare Earth during the fourth quarter worth approximately $1,586,000. JPMorgan Chase & Co. acquired a new stake in shares of USA Rare Earth during the third quarter worth approximately $734,000. Sovran Advisors LLC increased its holdings in shares of 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 buying an additional 266,783 shares in the last quarter. Finally, Guild Investment Management Inc. acquired a new stake in shares of USA Rare Earth during the third quarter worth approximately $1,080,000.

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.