USA Rare Earth (NASDAQ:USAR) Shares Up 18.9% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price shot up 18.9% during mid-day trading on Friday . The company traded as high as $14.41 and last traded at $14.15. 11,261,288 shares were traded during trading, an increase of 18% from the average session volume of 9,512,856 shares. The stock had previously closed at $11.90.

Analyst Upgrades and Downgrades

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

USA Rare Earth Price Performance

The stock has a market capitalization of $1.88 billion, a PE ratio of -27.21 and a beta of 0.97. The firm’s 50 day simple moving average is $15.45 and its 200 day simple moving average is $16.20.

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

Institutional Trading of USA Rare Earth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its stake in USA Rare Earth by 2.0% during the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after purchasing an additional 1,032 shares in the last quarter. National Bank of Canada FI grew its holdings in USA Rare Earth by 110.0% in the 3rd 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 in the last quarter. NewEdge Advisors LLC lifted its holdings in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of USA Rare Earth by 73.9% during the third quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock valued at $79,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Osaic Holdings Inc. purchased a new stake in USA Rare Earth during the second quarter worth about $38,000.

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.