USA Rare Earth (NASDAQ:USAR) Trading Up 9.1% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price shot up 9.1% on Monday . The stock traded as high as $18.93 and last traded at $18.79. 14,746,296 shares traded hands during trading, a decline of 39% from the average session volume of 24,245,721 shares. The stock had previously closed at $17.23.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on USAR shares. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday, December 29th. 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. Canaccord Genuity Group raised their price target on USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

USA Rare Earth Price Performance

The business has a 50 day simple moving average of $18.28 and a 200-day simple moving average of $18.25. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -36.13 and a beta of 0.91.

Insider Activity at USA Rare Earth

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 insiders.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently added to or reduced their stakes in the company. Calamos Advisors LLC bought a new stake in USA Rare Earth in the 3rd quarter valued at approximately $3,283,000. Pier 88 Investment Partners LLC acquired a new stake in shares of USA Rare Earth in the second quarter valued at approximately $588,000. Farther Finance Advisors LLC lifted its position in shares of USA Rare Earth by 1,461,225.0% in the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after purchasing an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. acquired a new position in USA Rare Earth during the third quarter worth $13,554,000. Finally, Guild Investment Management Inc. bought a new position in USA Rare Earth in the third quarter valued at $1,080,000.

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.