USA Rare Earth (NASDAQ:USAR) Shares Up 12.8% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was up 12.8% during trading on Wednesday . The stock traded as high as $16.98 and last traded at $16.5210. Approximately 5,376,217 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 18,625,809 shares. The stock had previously closed at $14.64.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Roth Mkm upped their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Canaccord Genuity Group lowered their target price on shares of USA Rare Earth from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday, March 27th. Cantor Fitzgerald increased their target price on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Benchmark began coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

USA Rare Earth Stock Performance

The firm’s 50 day moving average price is $19.09 and its 200-day moving average price is $18.85. The firm has a market capitalization of $3.61 billion, a PE ratio of -5.52 and a beta of 1.34.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million for the quarter.

Insider Activity

In related news, Director Carolyn Trabuco purchased 1,300 shares of USA Rare Earth stock in a transaction that occurred on Thursday, January 29th. The stock was purchased at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the transaction, the director directly owned 1,300 shares in the company, valued at approximately $29,380. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Blitzer purchased 100,000 shares of USA Rare Earth stock in a transaction that occurred on Thursday, January 29th. The shares were bought at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the transaction, the director owned 847,500 shares in the company, valued at approximately $18,170,400. The trade was a 13.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 46.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after acquiring an additional 1,433 shares during the last quarter. National Bank of Canada FI raised its holdings 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 acquiring an additional 1,100 shares during the last quarter. NewEdge Advisors LLC raised its holdings in USA Rare Earth by 158.2% in the 2nd 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. Center for Financial Planning Inc. acquired a new stake in USA Rare Earth in the 4th quarter valued at about $28,000. Finally, Havemeyer Place LP acquired a new stake in USA Rare Earth in the 4th quarter valued at about $33,000.

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.