USA Rare Earth (NASDAQ:USAR) Trading 1% Higher – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded up 1% during trading on Thursday . The company traded as high as $18.44 and last traded at $18.39. 19,491,299 shares traded hands during trading, a decline of 22% from the average session volume of 24,856,953 shares. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USAR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Roth Mkm upped 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. Benchmark assumed coverage on USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating on the stock. Canaccord Genuity Group upped their target price on USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, UBS Group reissued a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

USA Rare Earth Trading Up 1.0%

The business’s 50-day simple moving average is $18.29 and its two-hundred day simple moving average is $18.17. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -35.37 and a beta of 0.93.

Insiders Place Their Bets

In other news, Director Michael Blitzer purchased 100,000 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the completion of the transaction, the director owned 847,500 shares of the company’s stock, valued at $18,170,400. The trade was a 13.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Trabuco purchased 1,300 shares of the firm’s stock in a transaction on Thursday, January 29th. The shares were acquired at an average price of $22.60 per share, with a total value of $29,380.00. Following the completion of the acquisition, 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 owned by company insiders.

Hedge Funds Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Calamos Advisors LLC acquired a new position in shares of USA Rare Earth during the third quarter valued at about $3,283,000. Pier 88 Investment Partners LLC bought a new stake in USA Rare Earth in the 2nd quarter worth about $588,000. Farther Finance Advisors LLC grew its holdings 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 valued at $1,005,000 after acquiring an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. bought a new position in USA Rare Earth in the 3rd quarter valued at $13,554,000. Finally, Guild Investment Management Inc. bought a new position in USA Rare Earth during the third quarter valued at about $1,080,000.

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.