USA Rare Earth (NASDAQ:USAR) Trading 4.7% Higher – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) rose 4.7% on Monday . The company traded as high as $23.70 and last traded at $23.02. Approximately 13,629,686 shares were traded during trading, a decline of 26% from the average daily volume of 18,487,900 shares. The stock had previously closed at $21.99.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on USAR. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday, June 4th. Canaccord Genuity Group boosted their price objective on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Benchmark restated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Stock Up 4.7%

The firm has a market capitalization of $5.13 billion, a P/E ratio of -5.87 and a beta of 2.33. The firm has a 50 day moving average of $22.86 and a 200-day moving average of $19.58.

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

Insider Activity

In related news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors have recently made changes to their positions in USAR. NewEdge Advisors LLC boosted its stake in shares of USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after buying an additional 1,424 shares during the period. Raymond James Financial Inc. acquired a new position in USA Rare Earth during the second quarter valued at approximately $223,000. Lighthouse Investment Partners LLC acquired a new position in USA Rare Earth during the second quarter valued at approximately $329,000. Bank of America Corp DE raised its position in USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock valued at $2,659,000 after purchasing an additional 199,819 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in USA Rare Earth during the second quarter valued at approximately $145,000.

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.