USA Rare Earth (NASDAQ:USAR) Stock Price Up 5.7% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price rose 5.7% during trading on Tuesday . The stock traded as high as $18.46 and last traded at $18.19. Approximately 10,137,726 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 17,601,365 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on USAR shares. Northland Securities initiated coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Needham & Company LLC assumed coverage on USA Rare Earth in a report on Monday, June 1st. They issued a “buy” rating and a $39.00 price target on the stock. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Canaccord Genuity Group raised their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Roth Capital reiterated a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, USA Rare Earth currently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Price Performance

The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -4.64 and a beta of 2.45. The firm has a fifty day simple moving average of $23.38 and a two-hundred day simple moving average of $20.48.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. Equities analysts anticipate that USA Rare Earth Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the sale, the director owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its holdings in USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC purchased a new stake in USA Rare Earth in the 4th quarter worth approximately $102,378,000. Vanguard Group Inc. grew its stake in shares of USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after purchasing an additional 5,083,288 shares during the period. State Street Corp increased its holdings in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter. Finally, Inflection Point Holdings II LLC acquired a new position in shares of USA Rare Earth in the 4th quarter valued at $37,188,000.

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.