USA Rare Earth (NASDAQ:USAR) Shares Up 4.6% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) rose 4.6% on Thursday . The company traded as high as $24.79 and last traded at $24.64. Approximately 21,157,725 shares were traded during trading, an increase of 15% from the average session volume of 18,476,090 shares. The stock had previously closed at $23.55.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of USA Rare Earth in a research report on Thursday, June 4th. Needham & Company LLC started coverage on USA Rare Earth in a report on Monday, June 1st. They set a “buy” rating and a $39.00 target price on the stock. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Canaccord Genuity Group raised their price target on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Nine 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Stock Performance

The company’s fifty day simple moving average is $23.64 and its two-hundred day simple moving average is $19.92. The stock has a market capitalization of $5.50 billion, a P/E ratio of -6.29 and a beta of 2.33.

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

Insider Buying and Selling

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of institutional investors have recently modified their holdings of USAR. Larson Financial Group LLC grew its stake in shares of USA Rare Earth by 217.5% in 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 in the last quarter. NewEdge Advisors LLC raised its stake in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in USA Rare Earth in the 1st quarter worth about $27,000. Center for Financial Planning Inc. bought a new stake in USA Rare Earth in the 4th quarter valued at about $28,000. Finally, Havemeyer Place LP bought a new stake in USA Rare Earth in the 4th 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.