USA Rare Earth (NASDAQ:USAR) Stock Price Up 3.4% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price shot up 3.4% during mid-day trading on Wednesday . The company traded as high as $17.90 and last traded at $17.85. 7,990,337 shares were traded during trading, a decline of 51% from the average session volume of 16,419,045 shares. The stock had previously closed at $17.26.

Wall Street Analyst Weigh In

Several equities research analysts have commented on USAR shares. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Weiss Ratings lowered shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wedbush increased their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Roth Capital decreased their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Stock Down 0.9%

The stock has a market capitalization of $3.95 billion, a P/E ratio of -7.28 and a beta of 2.58. The stock has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $19.99.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. Sell-side analysts predict that USA Rare Earth Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction dated 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 transaction, the director owned 18,783 shares of the company’s stock, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of USA Rare Earth during the second quarter worth $335,795,000. Weiss Asset Management LP acquired a new position in shares of USA Rare Earth during the 1st quarter worth approximately $17,103,000. Encompass Capital Advisors LLC bought a new position in shares of USA Rare Earth during the first quarter worth approximately $7,038,000. Swiss National Bank boosted its stake in shares of USA Rare Earth by 67.6% in the first quarter. Swiss National Bank now owns 150,500 shares of the company’s stock valued at $2,278,000 after buying an additional 60,700 shares during the period. Finally, Man Group plc bought a new position in USA Rare Earth during the 2nd quarter worth $2,562,000.

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.