USA Rare Earth (NASDAQ:USAR) Trading Up 4.7% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) was up 4.7% during mid-day trading on Monday . The stock traded as high as $23.70 and last traded at $23.02. Approximately 13,629,686 shares were traded during trading, a decline of 26% from the average daily volume of 18,487,900 shares. The stock had previously closed at $21.99.

Analyst Ratings Changes

Several research firms recently commented on USAR. Wedbush upped their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. 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. Finally, Needham & Company LLC assumed coverage on shares of USA Rare Earth in a report on Monday, June 1st. They set a “buy” rating and a $39.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Stock Performance

The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -6.01 and a beta of 2.33. The business’s 50-day moving average is $23.28 and its two-hundred day moving average is $19.80.

USA Rare Earth (NASDAQ:USAR) last announced 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 firm had revenue of $5.70 million during the quarter. Analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the 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 sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of USA Rare Earth

Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in USA Rare Earth by 32.2% during the 1st quarter. Janus Henderson Group PLC now owns 34,456 shares of the company’s stock worth $521,000 after buying an additional 8,387 shares during the period. California State Teachers Retirement System raised its holdings in USA Rare Earth by 150.9% during the 1st quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock worth $1,756,000 after buying an additional 69,787 shares during the period. Royal Bank of Canada raised its holdings in USA Rare Earth by 46.5% during the 1st quarter. Royal Bank of Canada now owns 98,399 shares of the company’s stock worth $1,489,000 after buying an additional 31,245 shares during the period. Encompass Capital Advisors LLC acquired a new stake in USA Rare Earth during the 1st quarter worth approximately $7,038,000. Finally, The Manufacturers Life Insurance Company raised its holdings in USA Rare Earth by 106.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 97,802 shares of the company’s stock worth $1,480,000 after buying an additional 50,409 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.