USA Rare Earth (NASDAQ:USAR) Stock Price Up 2.3% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 2.3% during trading on Thursday . The stock traded as high as $19.28 and last traded at $18.87. Approximately 8,225,118 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 17,817,410 shares. The stock had previously closed at $18.45.

Wall Street Analyst Weigh In

USAR has been the subject of several research analyst reports. Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Needham & Company LLC initiated coverage on USA Rare Earth in a report on Monday, June 1st. They issued a “buy” rating and a $39.00 target price for the company. Finally, Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Down 2.1%

The business’s 50-day simple moving average is $23.55 and its 200-day simple moving average is $20.41. The company has a market cap of $4.12 billion, a PE ratio of -4.71 and a beta of 2.45.

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

Insider Transactions at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the firm’s 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 directly owned 18,783 shares of the company’s stock, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of USA Rare Earth in the 2nd quarter valued at $223,000. Lighthouse Investment Partners LLC bought a new stake in USA Rare Earth in the second quarter worth $329,000. Bank of America Corp DE increased its position in USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after buying an additional 199,819 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in USA Rare Earth during the second quarter worth $145,000.

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.