USA Rare Earth (NASDAQ:USAR) Stock Price Up 7.1% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price rose 7.1% during trading on Monday . The company traded as high as $17.72 and last traded at $17.39. Approximately 13,804,234 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 20,257,342 shares. The stock had previously closed at $16.24.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USAR. Benchmark began coverage on USA Rare Earth in a research note on Wednesday, January 21st. They set a “buy” rating for the company. Canaccord Genuity Group lifted their target price on shares of USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Cantor Fitzgerald increased their price target on shares of USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Roth Mkm raised their price target on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

USA Rare Earth Stock Performance

The business has a 50-day simple moving average of $20.21 and a 200 day simple moving average of $18.75. The firm has a market cap of $2.31 billion, a P/E ratio of -33.44 and a beta of 1.05.

Insider Activity at USA Rare Earth

In related news, Director Michael Blitzer purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were acquired 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 in the company, valued at approximately $18,170,400. The trade was a 13.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Trabuco acquired 1,300 shares of USA Rare Earth stock in a transaction on Thursday, January 29th. The shares were bought at an average cost of $22.60 per share, for a total transaction of $29,380.00. Following the completion of the transaction, the director owned 1,300 shares in the company, valued at approximately $29,380. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in USA Rare Earth by 2,437.5% in the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after buying an additional 627,545 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in USA Rare Earth by 20.2% in the second quarter. Titleist Asset Management LLC now owns 29,380 shares of the company’s stock worth $322,000 after buying an additional 4,930 shares during the period. Diametric Capital LP bought a new stake in USA Rare Earth during the 2nd quarter valued at approximately $147,000. NewEdge Advisors LLC grew its holdings in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $223,000.

About USA Rare Earth

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.