USA Rare Earth (NASDAQ:USAR) Trading 17.9% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded up 17.9% during mid-day trading on Thursday . The stock traded as high as $26.02 and last traded at $25.97. 30,132,806 shares changed hands during mid-day trading, an increase of 61% from the average session volume of 18,755,896 shares. The stock had previously closed at $22.03.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Canaccord Genuity Group upped 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. Wedbush assumed coverage on USA Rare Earth in a research report on Monday, April 20th. They issued an “outperform” rating and a $29.00 price objective on the stock. Cantor Fitzgerald upped their price objective on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Benchmark assumed coverage on USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday, March 27th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

USA Rare Earth Stock Up 1.4%

The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -8.78 and a beta of 1.34. The company has a 50 day simple moving average of $18.81 and a 200 day simple moving average of $18.70.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $1.64 million during the quarter. On average, research analysts forecast that USA Rare Earth Inc. will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its stake 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 last quarter. Bayshore Capital Advisors LLC acquired a new stake in shares of USA Rare Earth in the fourth quarter valued at about $102,378,000. Vanguard Group Inc. grew its stake in shares of USA Rare Earth by 533.3% in the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares in the last quarter. State Street Corp grew its stake in shares of USA Rare Earth by 78.4% in the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after buying an additional 2,212,177 shares in the last quarter. Finally, Inflection Point Holdings II LLC acquired a new stake in shares of USA Rare Earth in the fourth quarter valued at about $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.