USA Rare Earth (NASDAQ:USAR) Shares Up 7.6% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) rose 7.6% on Thursday . The stock traded as high as $24.95 and last traded at $24.29. Approximately 17,618,371 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 18,644,092 shares. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

USAR has been the topic of several recent research reports. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Roth Mkm set a $30.00 price target on shares of USA Rare Earth in a research report on Monday, April 20th. Canaccord Genuity Group raised their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Benchmark started coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald raised their price objective on USA Rare Earth from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

USA Rare Earth Trading Up 7.6%

The company’s 50-day simple moving average is $20.20 and its 200 day simple moving average is $18.41. The stock has a market cap of $5.29 billion, a P/E ratio of -6.20 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. Research analysts anticipate that USA Rare Earth Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares during the period. NewEdge Advisors LLC raised its stake in shares of USA Rare Earth by 158.2% during 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 during the period. Ascentis Independent Advisors bought a new stake in shares of USA Rare Earth during the 1st quarter worth $27,000. Center for Financial Planning Inc. bought a new stake in shares of USA Rare Earth during the 4th quarter worth $28,000. Finally, Havemeyer Place LP bought a new stake in shares of USA Rare Earth during the 4th quarter worth $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.