USA Rare Earth (NASDAQ:USAR) Trading 11% Higher – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was up 11% during mid-day trading on Thursday . The stock traded as high as $22.65 and last traded at $22.56. Approximately 13,928,433 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 18,564,660 shares. The stock had previously closed at $20.33.

Analyst Ratings Changes

A number of equities research analysts have recently commented on USAR shares. Canaccord Genuity Group upped their target price 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. Roth Mkm reissued a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Wedbush increased their price target on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Benchmark restated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Stock Performance

The company has a market capitalization of $5.03 billion, a PE ratio of -5.76 and a beta of 2.33. The firm has a fifty day simple moving average of $22.56 and a 200-day simple moving average of $19.44.

USA Rare Earth (NASDAQ:USAR) last announced 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 company had revenue of $5.70 million for the quarter. As a group, research analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds have recently added to or reduced their stakes in USAR. Ascentis Independent Advisors acquired a new stake in shares of USA Rare Earth during the first quarter worth $27,000. Larson Financial Group LLC boosted its holdings in shares of USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares during the period. National Bank of Canada FI boosted its holdings in shares of 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 during the period. KBC Group NV bought a new stake in shares of USA Rare Earth during the 1st quarter valued at about $35,000. Finally, NewEdge Advisors LLC grew 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 valued at $25,000 after buying an additional 1,424 shares during the last quarter.

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.