USA Rare Earth (NASDAQ:USAR) Stock Price Up 7.6% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price shot up 7.6% during trading on Thursday . The company traded as high as $24.95 and last traded at $24.29. 17,618,371 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 18,644,092 shares. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

A number of research firms recently commented on USAR. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Roth Mkm set a $30.00 target price on shares of USA Rare Earth in a report on Monday, April 20th. Benchmark assumed coverage on shares of USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating on the stock. Finally, Northland Securities assumed coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Eight equities 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

USA Rare Earth Stock Up 7.6%

The company has a 50-day moving average price of $20.20 and a two-hundred day moving average price of $18.41. The stock has a market capitalization of $5.29 billion, a P/E ratio of -6.20 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share 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, sell-side analysts expect that USA Rare Earth Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of USA Rare Earth by 217.5% during the fourth 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 during the period. NewEdge Advisors LLC increased its holdings in shares of USA Rare Earth by 158.2% in the second 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 period. Ascentis Independent Advisors bought a new position in shares of USA Rare Earth in the first quarter worth $27,000. Center for Financial Planning Inc. bought a new position in shares of USA Rare Earth in the fourth quarter worth $28,000. Finally, Havemeyer Place LP bought a new position in shares of USA Rare Earth in the fourth quarter worth $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.