USA Rare Earth (NASDAQ:USAR) Trading 4.7% Higher – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 4.7% during mid-day trading on Monday . The stock traded as high as $23.70 and last traded at $23.02. 13,629,686 shares were traded during mid-day trading, a decline of 26% from the average session volume of 18,487,900 shares. The stock had previously closed at $21.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC assumed coverage on USA Rare Earth in a research note on Monday, June 1st. They issued a “buy” rating and a $39.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a research note on Thursday, June 4th. Roth Mkm reissued a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Wedbush lifted 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. Finally, Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Stock Up 4.7%

The firm has a market cap of $5.13 billion, a P/E ratio of -5.87 and a beta of 2.33. The firm has a fifty day moving average of $22.86 and a 200-day moving average of $19.58.

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

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the company’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 sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors have recently bought and sold shares of USAR. Larson Financial Group LLC increased its position in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after buying an additional 1,433 shares during the last quarter. NewEdge Advisors LLC increased 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 worth $25,000 after buying an additional 1,424 shares during the last quarter. Ascentis Independent Advisors acquired a new position in USA Rare Earth during the first quarter worth approximately $27,000. Center for Financial Planning Inc. acquired a new position in USA Rare Earth during the fourth quarter worth approximately $28,000. Finally, Havemeyer Place LP acquired a new position in USA Rare Earth during the fourth quarter worth 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.