USA Rare Earth (NASDAQ:USAR) Trading 9.3% Higher – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR) traded up 9.3% on Wednesday . The company traded as high as $21.88 and last traded at $21.8320. 7,647,938 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 18,530,711 shares. The stock had previously closed at $19.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Canaccord Genuity Group increased their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday. Benchmark began coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They set a “buy” rating on the stock. Finally, Northland Securities began coverage on shares of USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, USA Rare Earth has a consensus rating of “Moderate Buy” and an average price target of $35.40.

USA Rare Earth Stock Up 12.5%

The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -5.75 and a beta of 2.38. The company’s 50-day simple moving average is $20.13 and its 200 day simple moving average is $18.39.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. On average, equities analysts expect that USA Rare Earth Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in USA Rare Earth during the first quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in USA Rare Earth by 217.5% during the fourth 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 boosted its holdings in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the period. KBC Group NV bought a new stake in USA Rare Earth during the first quarter valued at about $35,000. Finally, NewEdge Advisors LLC boosted its holdings in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring 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.