USA Rare Earth (NASDAQ:USAR) Shares Up 1.4% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) rose 1.4% during trading on Monday . The stock traded as high as $14.80 and last traded at $14.04. Approximately 6,865,769 shares traded hands during trading, an increase of 16% from the average daily volume of 5,935,217 shares. The stock had previously closed at $13.84.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Capital set a $40.00 price target on USA Rare Earth in a research note on Friday, October 10th. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. William Blair assumed coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Performance

The firm has a market cap of $1.86 billion, a P/E ratio of -27.00 and a beta of 0.91. The firm’s fifty day moving average price is $18.52 and its 200 day moving average price is $16.21.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) 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 purchased a new stake in USA Rare Earth during the first quarter valued at approximately $145,000. Newtyn Management LLC acquired a new position in USA Rare Earth during the 1st quarter valued at about $4,114,000. International Assets Investment Management LLC purchased a new stake in USA Rare Earth in the second quarter valued at about $250,000. MMCAP International Inc. SPC acquired a new stake in USA Rare Earth in the second quarter worth about $261,000. Finally, Pier 88 Investment Partners LLC acquired a new stake in USA Rare Earth in the second quarter worth about $588,000.

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.