USA Rare Earth (NASDAQ:USAR) Shares Up 1% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 1% during mid-day trading on Monday . The company traded as high as $19.98 and last traded at $19.35. 7,346,354 shares were traded during trading, a decline of 59% from the average daily volume of 17,994,164 shares. The stock had previously closed at $19.15.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wedbush raised their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Needham & Company LLC began coverage on USA Rare Earth in a research note on Monday, June 1st. They issued a “buy” rating and a $39.00 target price on the stock. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a research note on Thursday, June 4th. Finally, Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Trading Up 1.0%

The company has a market capitalization of $4.32 billion, a PE ratio of -4.94 and a beta of 2.45. The company has a fifty day simple moving average of $23.96 and a 200-day simple moving average of $20.29.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, equities analysts predict that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew 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 in the last quarter. Raymond James Financial Inc. purchased a new position in USA Rare Earth in the 2nd quarter valued at approximately $223,000. Lighthouse Investment Partners LLC acquired a new position in shares of USA Rare Earth in the second quarter worth $329,000. Bank of America Corp DE increased its position in shares of USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after acquiring an additional 199,819 shares during the period. Finally, LMR Partners LLP purchased a new position in USA Rare Earth in the second quarter valued at $145,000.

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.