USA Rare Earth (NASDAQ:USAR) Trading 4.6% Higher – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) was up 4.6% during mid-day trading on Thursday . The company traded as high as $24.79 and last traded at $24.64. Approximately 21,157,725 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 18,476,090 shares. The stock had previously closed at $23.55.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on USAR. Northland Securities began coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a research note on Thursday, June 4th. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group raised their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Trading Up 4.6%

The company has a market cap of $5.50 billion, a P/E ratio of -6.29 and a beta of 2.33. The business has a 50 day moving average price of $23.28 and a 200-day moving average price of $19.80.

USA Rare Earth (NASDAQ:USAR) last released its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. On average, sell-side analysts expect that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently bought and sold shares of USAR. Ascentis Independent Advisors acquired a new position in shares of USA Rare Earth during the 1st quarter worth approximately $27,000. Larson Financial Group LLC raised its stake in 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 acquiring an additional 1,433 shares during the period. National Bank of Canada FI lifted its holdings in USA Rare Earth by 110.0% during the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares during the last quarter. KBC Group NV acquired a new stake in USA Rare Earth during the 1st quarter valued at $35,000. Finally, NewEdge Advisors LLC increased its holdings in shares of 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 purchasing 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.