USA Rare Earth (NASDAQ:USAR) Trading Up 5.7% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded up 5.7% on Tuesday . The company traded as high as $18.46 and last traded at $18.19. Approximately 10,137,726 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 17,601,365 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

USAR has been the subject of a number of analyst reports. Wedbush upped their price target on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday, June 4th. Northland Securities assumed coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price for the company. Finally, 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. Nine 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Up 5.7%

The stock’s fifty day simple moving average is $23.38 and its 200-day simple moving average is $20.48. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -4.64 and a beta of 2.45.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share 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, analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the firm’s 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 transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in USAR. Bayshore Capital Advisors LLC acquired a new position in shares of USA Rare Earth during the 4th quarter worth $102,378,000. Vanguard Group Inc. lifted its position in USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after buying an additional 5,083,288 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after buying an additional 3,909,455 shares during the period. Inflection Point Holdings II LLC acquired a new stake in USA Rare Earth during the 4th quarter worth approximately $37,188,000. Finally, State Street Corp lifted its stake in shares of USA Rare Earth by 78.4% during the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter.

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.