USA Rare Earth (NASDAQ:USAR) Trading 1.3% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was up 1.3% on Tuesday . The stock traded as high as $17.10 and last traded at $16.99. Approximately 12,183,537 shares were traded during trading, a decline of 25% from the average session volume of 16,245,983 shares. The stock had previously closed at $16.78.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC cut their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Jefferies Financial Group started coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Finally, Roth Capital decreased their price target 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. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Price Performance

The firm’s 50-day moving average price is $16.93 and its 200-day moving average price is $19.70. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -6.31 and a beta of 2.58.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. On average, sell-side analysts anticipate that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Allworth Financial LP bought a new stake in USA Rare Earth in the second quarter valued at about $38,000. Ascentis Independent Advisors bought a new position in USA Rare Earth in the first quarter worth about $27,000. Ameritas Advisory Services LLC grew its holdings in shares of USA Rare Earth by 276.3% during the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock valued at $43,000 after purchasing an additional 1,459 shares during the last quarter. First PREMIER Bank raised its position in shares of USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after purchasing an additional 1,000 shares during the period. Finally, MCF Advisors LLC bought a new stake in shares of USA Rare Earth in the 2nd quarter worth approximately $43,000.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-focused critical minerals company developing an integrated rare earth supply chain. Its activities center on the production of rare earth materials used in permanent magnets, electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s principal asset is the Round Top rare earth and critical minerals project in Hudspeth County, Texas. USA Rare Earth is advancing plans to mine and process ore from Round Top and produce separated rare earth oxides and other critical mineral products, including materials containing neodymium, praseodymium, dysprosium and terbium.