USA Rare Earth (NASDAQ:USAR) Trading Up 2.7% – Time to Buy?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 2.7% on Monday . The stock traded as high as $18.15 and last traded at $17.74. Approximately 11,875,575 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 11,909,874 shares. The stock had previously closed at $17.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. William Blair started coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating for the company. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Price Performance

The company’s 50-day simple moving average is $14.95 and its 200 day simple moving average is $16.45. The firm has a market cap of $2.35 billion, a P/E ratio of -34.12 and a beta of 0.96.

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

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Calamos Advisors LLC bought a new stake in shares of USA Rare Earth in the 3rd quarter worth about $3,283,000. Pier 88 Investment Partners LLC bought a new position in USA Rare Earth during the 2nd quarter valued at about $588,000. Farther Finance Advisors LLC raised its position in USA Rare Earth by 1,461,225.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after purchasing an additional 58,449 shares during the period. Altfest L J & Co. Inc. bought a new stake in USA Rare Earth in the third quarter worth about $13,554,000. Finally, Darwin Wealth Management LLC bought a new stake in USA Rare Earth in the third quarter worth about $693,000.

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.