USA Rare Earth (NASDAQ:USAR) Trading Up 2.8% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 2.8% on Monday . The company traded as high as $21.08 and last traded at $21.04. 9,864,622 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 18,211,057 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

A number of equities research analysts recently commented on USAR shares. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. 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 target price on the stock. Canaccord Genuity Group boosted their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Finally, Roth Mkm reiterated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Nine investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Up 2.8%

The stock’s 50 day moving average is $24.13 and its two-hundred day moving average is $20.18. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -5.37 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. On average, research analysts anticipate that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC increased its position in shares of USA Rare Earth by 217.5% in the fourth 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. NewEdge Advisors LLC increased its position in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in USA Rare Earth in the first quarter valued at $27,000. Center for Financial Planning Inc. bought a new position in shares of USA Rare Earth in the 4th quarter valued at about $28,000. Finally, Havemeyer Place LP acquired a new position in shares of USA Rare Earth during the 4th quarter worth about $33,000.

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.