USA Rare Earth (NASDAQ:USAR) Trading Up 7.3% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) traded up 7.3% during trading on Monday . The company traded as high as $23.59 and last traded at $23.44. 12,752,142 shares were traded during mid-day trading, a decline of 53% from the average session volume of 27,145,633 shares. The stock had previously closed at $21.84.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Roth Mkm raised their target price on shares of USA Rare Earth from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. William Blair began coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Benchmark initiated coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They set a “buy” rating for the company. UBS Group reissued a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.33.

USA Rare Earth Stock Performance

The company has a 50 day moving average of $17.79 and a 200 day moving average of $17.83.

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

Insider Buying and Selling

In related news, Director Michael Blitzer purchased 100,000 shares of USA Rare Earth stock in a transaction dated Thursday, January 29th. The stock was bought at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the completion of the acquisition, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Trabuco acquired 1,300 shares of the stock in a transaction dated Thursday, January 29th. The shares were bought at an average cost of $22.60 per share, with a total value of $29,380.00. Following the transaction, the director directly owned 1,300 shares of the company’s stock, valued at $29,380. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USAR. Larson Financial Group LLC increased its holdings in 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 in the last quarter. NewEdge Advisors LLC boosted its position 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 worth $25,000 after buying an additional 1,424 shares during the period. Center for Financial Planning Inc. acquired a new position in shares of USA Rare Earth during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. grew its holdings in shares of USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after buying an additional 2,612 shares in the last quarter. Finally, National Bank of Canada FI raised its position in USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during 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.