USA Rare Earth (NASDAQ:USAR) Trading 8.5% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) rose 8.5% during mid-day trading on Tuesday . The stock traded as high as $20.55 and last traded at $20.39. Approximately 16,492,771 shares were traded during trading, a decline of 31% from the average daily volume of 23,971,459 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on USAR. Canaccord Genuity Group increased their target price on USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday, December 29th. Benchmark assumed coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They set a “buy” rating for the company. Roth Mkm raised their price target on shares of USA Rare Earth from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average price target of $34.33.

USA Rare Earth Trading Up 8.5%

The company has a market capitalization of $2.70 billion, a P/E ratio of -39.21 and a beta of 0.93. The company’s fifty day moving average is $18.36 and its 200 day moving average is $18.28.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco purchased 1,300 shares of USA Rare Earth stock in a transaction dated Thursday, January 29th. The stock was purchased at an average cost of $22.60 per share, for a total transaction of $29,380.00. Following the transaction, the director directly owned 1,300 shares of the company’s stock, valued at approximately $29,380. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Blitzer acquired 100,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the transaction, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 46.60% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors have recently made changes to their positions in the stock. Calamos Advisors LLC bought a new stake in USA Rare Earth during the third quarter worth about $3,283,000. Pier 88 Investment Partners LLC bought a new stake in USA Rare Earth in the 2nd quarter worth approximately $588,000. Farther Finance Advisors LLC boosted its stake in USA Rare Earth by 1,461,225.0% in the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after buying an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in USA Rare Earth during the third quarter valued at approximately $13,554,000. Finally, Guild Investment Management Inc. purchased a new position 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.