USA Rare Earth (NASDAQ:USAR) Trading Up 5.4% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) traded up 5.4% on Friday . The company traded as high as $17.80 and last traded at $17.69. 9,595,114 shares were traded during mid-day trading, a decline of 22% from the average session volume of 12,280,145 shares. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on USAR shares. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. William Blair started coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating for the company. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research report on Friday, October 10th. Finally, Canaccord Genuity Group boosted their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Six research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Stock Up 5.4%

The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -34.02 and a beta of 0.96. The business’s 50-day moving average is $15.01 and its two-hundred day moving average is $16.59.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of USAR. Alyeska Investment Group L.P. grew its holdings in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after purchasing an additional 3,909,455 shares during the period. Vanguard Group Inc. boosted its holdings in USA Rare Earth by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 953,198 shares of the company’s stock valued at $16,385,000 after purchasing an additional 86,134 shares during the last quarter. Altfest L J & Co. Inc. acquired a new position in USA Rare Earth in the 3rd quarter valued at about $13,554,000. Geode Capital Management LLC grew its stake in shares of USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after buying an additional 627,545 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of USA Rare Earth during the 3rd quarter worth approximately $8,304,000.

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.