USA Rare Earth (NASDAQ:USAR) Trading 2.8% Higher – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 2.8% during trading on Monday . The company traded as high as $21.08 and last traded at $21.04. 9,864,622 shares traded hands during trading, a decline of 46% from the average daily volume of 18,211,057 shares. The stock had previously closed at $20.47.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a research report on Thursday, June 4th. Canaccord Genuity Group raised their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Needham & Company LLC began coverage on USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Price Performance

The stock’s 50 day simple moving average is $24.13 and its two-hundred day simple moving average is $20.18. The company has a market capitalization of $4.69 billion, a P/E ratio of -5.37 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. As a group, equities research 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 USA Rare Earth stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several large investors have recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in USA Rare Earth during the 1st quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after buying an additional 1,433 shares during the period. National Bank of Canada FI grew its position in shares of 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 worth $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 first quarter worth approximately $35,000. Finally, 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 buying an additional 1,424 shares during the period.

USA Rare Earth Company Profile

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.