USA Rare Earth (NASDAQ:USAR) Stock Price Up 8.3% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares were up 8.3% on Wednesday . The company traded as high as $24.49 and last traded at $23.55. Approximately 19,648,352 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 18,452,348 shares. The stock had previously closed at $21.74.

Analysts Set New Price Targets

Several research firms recently commented on USAR. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of USA Rare Earth in a report on Thursday, June 4th. Roth Mkm reiterated a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Needham & Company LLC started coverage on shares of USA Rare Earth in a research report on Monday, June 1st. They issued a “buy” rating and a $39.00 target price for the company. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Northland Securities started coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Stock Performance

The firm has a 50-day simple moving average of $23.48 and a two-hundred day simple moving average of $19.88. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of -6.29 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. On average, sell-side analysts forecast that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other USA Rare Earth 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 directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in shares of USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after purchasing an additional 1,433 shares during the last quarter. NewEdge Advisors LLC increased its position in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares during the last quarter. Ascentis Independent Advisors acquired a new position in USA Rare Earth during the first quarter worth $27,000. Center for Financial Planning Inc. bought a new position in USA Rare Earth during the fourth quarter valued at about $28,000. Finally, Havemeyer Place LP bought a new position in USA Rare Earth during the fourth quarter valued at about $33,000.

About USA Rare Earth

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.