USA Rare Earth (NASDAQ:USAR) Trading 1.5% Higher – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 1.5% on Thursday . The company traded as high as $18.01 and last traded at $17.41. Approximately 10,347,504 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 16,833,854 shares. The stock had previously closed at $17.16.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Needham & Company LLC decreased their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Roth Capital dropped their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Stock Up 11.0%

The stock has a 50-day moving average price of $19.71 and a 200 day moving average price of $20.51. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -4.93 and a beta of 2.55.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. As a group, equities analysts forecast that USA Rare Earth Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several large investors have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its position in shares of USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after acquiring an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC raised its position in shares of USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock worth $413,000 after acquiring an additional 840 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after acquiring an additional 936 shares in the last quarter. Advisory Services Network LLC lifted its stake in USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after purchasing an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares during the last quarter.

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.