USA Rare Earth (NASDAQ:USAR) Stock Price Up 9% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price shot up 9% during trading on Tuesday . The company traded as high as $17.61 and last traded at $17.28. Approximately 13,624,242 shares traded hands during trading, a decline of 20% from the average session volume of 16,932,818 shares. The stock had previously closed at $15.86.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Northland Securities started coverage on USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Wedbush boosted their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Finally, Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Nine 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 $35.83.

USA Rare Earth Price Performance

The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -4.44 and a beta of 2.55. The firm’s 50-day simple moving average is $20.10 and its 200 day simple moving average is $20.52.

USA Rare Earth (NASDAQ:USAR) last issued its 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 during the quarter. As a group, research analysts predict that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at USA Rare Earth

In related 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 value of $296,010.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of USAR. Sterling Capital Management LLC increased its position in USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC lifted its stake in USA Rare Earth by 2.5% in the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after purchasing an additional 840 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in USA Rare Earth by 20.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after buying an additional 936 shares in the last quarter. Advisory Services Network LLC boosted its position in USA Rare Earth by 2.0% in the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after buying an additional 1,032 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in the last quarter.

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.