USA Rare Earth (NASDAQ:USAR) Trading Up 8.5% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded up 8.5% during mid-day trading on Tuesday . The stock traded as high as $20.55 and last traded at $20.39. 16,492,771 shares traded hands during trading, a decline of 31% from the average session volume of 23,971,459 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Benchmark initiated coverage on shares of USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating for the company. Roth Mkm upped their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Canaccord Genuity Group raised their target price on USA Rare Earth from $23.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, UBS Group reissued a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and an average target price of $34.33.

USA Rare Earth Stock Up 0.2%

The stock’s fifty day moving average price is $18.73 and its 200-day moving average price is $18.33.

Insider Buying and Selling

In other news, Director Michael Blitzer bought 100,000 shares of the stock in a transaction on Thursday, January 29th. The shares were purchased at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the completion of the purchase, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This trade represents a 13.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Trabuco acquired 1,300 shares of the stock in a transaction dated Thursday, January 29th. The shares were bought at an average cost of $22.60 per share, for a total transaction of $29,380.00. Following the acquisition, the director owned 1,300 shares in the company, valued at $29,380. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 46.60% of the company’s stock.

Institutional Trading of USA Rare Earth

Several institutional investors and hedge funds have recently bought and sold shares of the business. MMCAP International Inc. SPC bought a new stake in shares of USA Rare Earth during the second quarter worth about $261,000. Pier 88 Investment Partners LLC bought a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $588,000. SBI Securities Co. Ltd. grew its holdings in USA Rare Earth by 10,448.0% in the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after purchasing an additional 2,612 shares during the period. Geode Capital Management LLC increased its position in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after buying an additional 627,545 shares in the last quarter. Finally, Titleist Asset Management LLC increased its holdings in shares of USA Rare Earth by 20.2% during the second quarter. Titleist Asset Management LLC now owns 29,380 shares of the company’s stock valued at $322,000 after acquiring an additional 4,930 shares in the last quarter.

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.