USA Rare Earth (NASDAQ:USAR) Trading 4.2% Higher – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) traded up 4.2% during trading on Friday . The company traded as high as $26.71 and last traded at $25.30. 18,170,970 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 18,654,641 shares. The stock had previously closed at $24.29.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Canaccord Genuity Group boosted their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Northland Securities assumed coverage on shares of USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.40.

USA Rare Earth Trading Up 4.2%

The company’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $18.49. The company has a market cap of $5.51 billion, a P/E ratio of -6.45 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last released its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. As a group, analysts anticipate that USA Rare Earth Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at about $8,304,000. Jennison Associates LLC bought a new stake in shares of USA Rare Earth during the 4th quarter valued at about $1,586,000. JPMorgan Chase & Co. bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at about $734,000. Sovran Advisors LLC grew its position in shares of USA Rare Earth by 119.7% during the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock valued at $5,828,000 after buying an additional 266,783 shares during the last quarter. Finally, Guild Investment Management Inc. bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at about $1,080,000.

USA Rare Earth Company Profile

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.