USA Rare Earth (NASDAQ:USAR) Stock Price Up 12.1% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was up 12.1% during mid-day trading on Thursday . The company traded as high as $14.72 and last traded at $14.65. 10,867,227 shares were traded during mid-day trading, a decline of 36% from the average session volume of 17,030,447 shares. The stock had previously closed at $13.07.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Wedbush upped their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.83.

USA Rare Earth Trading Up 12.1%

The company’s fifty day simple moving average is $21.09 and its 200 day simple moving average is $20.57. The firm has a market capitalization of $3.27 billion, a P/E ratio of -3.74 and a beta of 2.45.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. On average, analysts predict that USA Rare Earth Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.