USA Rare Earth (NASDAQ:USAR) Stock Price Up 5.7% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price shot up 5.7% during trading on Tuesday . The stock traded as high as $18.46 and last traded at $18.19. Approximately 10,137,726 shares changed hands during trading, a decline of 42% from the average daily volume of 17,601,365 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

USAR has been the topic of several recent research reports. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Needham & Company LLC started coverage on USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research report on Thursday, June 4th. Northland Securities initiated coverage on USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Wedbush boosted their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Trading Down 4.8%

The firm’s 50-day simple moving average is $22.97 and its 200 day simple moving average is $20.52. The stock has a market cap of $3.68 billion, a P/E ratio of -4.17 and a beta of 2.45.

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

Insiders Place Their Bets

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its position in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares in the last quarter. NewEdge Advisors LLC raised its position 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 buying an additional 1,424 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of USA Rare Earth in the 1st quarter worth approximately $27,000. Center for Financial Planning Inc. acquired a new stake in shares of USA Rare Earth in the 4th quarter worth approximately $28,000. Finally, Havemeyer Place LP bought a new position in shares of USA Rare Earth in the fourth quarter valued at approximately $33,000.

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.