USA Rare Earth (NASDAQ:USAR) Trading Up 11% – Time to Buy?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 11% during trading on Thursday . The stock traded as high as $22.65 and last traded at $22.56. Approximately 13,928,433 shares changed hands during trading, a decline of 25% from the average daily volume of 18,564,660 shares. The stock had previously closed at $20.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on USAR shares. Canaccord Genuity Group increased their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Roth Mkm reiterated a “buy” rating on shares of USA Rare Earth in a research report on Thursday, June 4th. Wedbush raised their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Northland Securities started coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target for the company. Finally, Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Stock Performance

The company has a market capitalization of $4.90 billion, a P/E ratio of -5.61 and a beta of 2.33. The firm’s fifty day moving average is $22.86 and its 200 day moving average is $19.53.

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

Insider Buying and Selling

In related news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director owned 18,783 shares of the company’s stock, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after buying an additional 829 shares during the period. Pier 88 Investment Partners LLC increased 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 worth $413,000 after buying an additional 840 shares during the period. SBI Securities Co. Ltd. increased its stake in USA Rare Earth by 20.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after buying an additional 936 shares during the period. Advisory Services Network LLC increased its stake in USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after buying an additional 1,032 shares during the period. Finally, National Bank of Canada FI increased its stake in USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the period.

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.