USA Rare Earth (NASDAQ:USAR) Shares Up 2% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) traded up 2% during mid-day trading on Friday . The stock traded as high as $15.37 and last traded at $14.95. 11,613,230 shares traded hands during trading, a decline of 32% from the average session volume of 16,987,859 shares. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on USAR. Wedbush raised 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. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Canaccord Genuity Group upped their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Roth Capital lowered their price target on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Stock Performance

The company’s 50 day moving average is $20.90 and its 200 day moving average is $20.55. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -3.81 and a beta of 2.45.

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

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB bought a new stake in shares of USA Rare Earth in the 2nd quarter worth approximately $1,612,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of USA Rare Earth during the 2nd quarter worth approximately $200,000. FNY Investment Advisers LLC increased its position in shares of USA Rare Earth by 51,400.0% during the second quarter. FNY Investment Advisers LLC now owns 30,900 shares of the company’s stock valued at $666,000 after purchasing an additional 30,840 shares during the period. GK Wealth Management LLC bought a new stake in shares of USA Rare Earth during the second quarter valued at approximately $531,000. Finally, GAMMA Investing LLC raised its stake in shares of USA Rare Earth by 98.9% in the second quarter. GAMMA Investing LLC now owns 3,696 shares of the company’s stock valued at $80,000 after purchasing an additional 1,838 shares in the last quarter.

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.