USA Rare Earth (NASDAQ:USAR) Stock Price Up 2.4% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price rose 2.4% during mid-day trading on Friday . The stock traded as high as $14.02 and last traded at $13.84. Approximately 23,063,926 shares changed hands during trading, an increase of 290% from the average daily volume of 5,920,784 shares. The stock had previously closed at $13.52.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Roth Capital set a $40.00 price objective on USA Rare Earth in a research note on Friday, October 10th. UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Canaccord Genuity Group lifted their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, William Blair started coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Stock Up 2.4%

The firm’s fifty day moving average price is $18.52 and its 200 day moving average price is $16.17. The stock has a market cap of $1.84 billion, a PE ratio of -26.62 and a beta of 0.91.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Investors Weigh In On USA Rare Earth

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its stake in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter. NewEdge Advisors LLC raised its stake in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock valued at $29,000 after purchasing an additional 2,612 shares during the last quarter. Osaic Holdings Inc. bought a new position in USA Rare Earth during the second quarter valued at $38,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of USA Rare Earth in the 3rd quarter worth $69,000.

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.