USA Rare Earth (NASDAQ:USAR) Stock Price Up 2.8% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price rose 2.8% during mid-day trading on Wednesday . The stock traded as high as $14.25 and last traded at $14.02. Approximately 6,902,908 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 5,620,716 shares. The stock had previously closed at $13.64.

Wall Street Analysts Forecast Growth

USAR has been the subject of several research analyst reports. William Blair assumed coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of USA Rare Earth in a research report on Monday. Wall Street Zen lowered USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Roth Capital set a $40.00 price target on USA Rare Earth in a research note on Friday, October 10th. Finally, Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Price Performance

The stock has a market cap of $1.86 billion, a P/E ratio of -26.96 and a beta of 0.91. The company has a fifty day moving average price of $20.38 and a 200 day moving average price of $15.59.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

A number of institutional investors have recently added to or reduced their stakes in USAR. National Bank of Canada FI increased its holdings in shares of 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 worth $36,000 after purchasing an additional 1,100 shares during the period. NewEdge Advisors LLC raised its position in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after purchasing an additional 2,612 shares during the last quarter. Osaic Holdings Inc. bought a new position in shares of USA Rare Earth during the 2nd quarter valued at about $38,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of USA Rare Earth during the third quarter worth approximately $69,000.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.