USA Rare Earth (NASDAQ:USAR) Trading Up 5.6% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares were up 5.6% during mid-day trading on Tuesday . The company traded as high as $15.70 and last traded at $15.26. Approximately 6,303,680 shares traded hands during trading, an increase of 15% from the average daily volume of 5,483,113 shares. The stock had previously closed at $14.45.

Analysts Set New Price Targets

USAR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of USA Rare Earth in a research report on Thursday. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a report on Friday, October 10th. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. William Blair assumed coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald started coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an “overweight” rating and a $16.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Trading Up 5.6%

The firm has a market capitalization of $1.74 billion, a P/E ratio of -29.35 and a beta of 0.77. The business has a 50 day moving average of $20.86 and a 200-day moving average of $15.34.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly 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).

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently added to or reduced their stakes in the company. Titleist Asset Management LLC acquired a new stake in shares of USA Rare Earth in the 1st quarter valued at about $145,000. Newtyn Management LLC bought a new position in shares of USA Rare Earth during the first quarter worth about $4,114,000. International Assets Investment Management LLC acquired a new stake in USA Rare Earth in the 2nd quarter valued at approximately $250,000. MMCAP International Inc. SPC acquired a new stake in USA Rare Earth in the 2nd quarter valued at approximately $261,000. Finally, Pier 88 Investment Partners LLC bought a new stake in USA Rare Earth in the 2nd quarter valued at approximately $588,000.

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.