USA Rare Earth (NASDAQ:USAR) Stock Price Up 3% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares rose 3% during trading on Wednesday . The company traded as high as $14.67 and last traded at $14.53. Approximately 3,549,293 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 5,934,597 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Canaccord Genuity Group lifted their price target on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Roth Capital set a $40.00 target price on USA Rare Earth in a research report on Friday, October 10th. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. William Blair initiated coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Stock Performance

The company has a market cap of $1.93 billion, a P/E ratio of -27.94 and a beta of 0.91. The business has a 50 day moving average price of $17.56 and a two-hundred day moving average price of $16.26.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Investors Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in USA Rare Earth by 2.0% during the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after buying an additional 1,032 shares during the period. National Bank of Canada FI increased its position in shares of USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the period. NewEdge Advisors LLC raised its stake in shares of USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of USA Rare Earth by 73.9% during the third quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock valued at $79,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Osaic Holdings Inc. purchased a new stake in shares of USA Rare Earth during the second quarter worth about $38,000.

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.