USA Rare Earth (NASDAQ:USAR) Trading Up 9.7% Following Analyst Upgrade

USA Rare Earth Inc. (NASDAQ:USAR) traded up 9.7% on Friday after Canaccord Genuity Group raised their price target on the stock from $22.00 to $23.00. Canaccord Genuity Group currently has a buy rating on the stock. USA Rare Earth traded as high as $17.45 and last traded at $17.36. 15,643,213 shares traded hands during mid-day trading, an increase of 191% from the average session volume of 5,379,718 shares. The stock had previously closed at $15.82.

Several other equities research analysts have also recently weighed in on USAR. William Blair assumed coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating for the company. Cantor Fitzgerald initiated coverage on shares of USA Rare Earth in a report on Friday, August 1st. They set an “overweight” rating and a $16.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Wednesday, October 8th. Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. Finally, Wall Street Zen lowered USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, USA Rare Earth presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

Insiders Place Their Bets

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of USA Rare Earth stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total transaction of $32,946,621.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in USA Rare Earth by 9.9% in the third quarter. Vanguard Group Inc. now owns 953,198 shares of the company’s stock worth $16,385,000 after purchasing an additional 86,134 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at $734,000. Guild Investment Management Inc. bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at $1,080,000. SBI Securities Co. Ltd. increased its stake in shares of USA Rare Earth by 73.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock worth $79,000 after acquiring an additional 1,949 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of USA Rare Earth by 2,204.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,065 shares of the company’s stock worth $140,000 after acquiring an additional 7,715 shares in the last quarter.

USA Rare Earth Stock Performance

The business’s 50-day moving average is $20.58 and its 200-day moving average is $15.07. The company has a market capitalization of $1.98 billion, a PE ratio of -64.30 and a beta of 0.77.

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

USA Rare Earth Company Profile

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.