USA Rare Earth (NASDAQ:USAR) Trading Up 2.8% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded up 2.8% during mid-day trading on Monday . The stock traded as high as $21.08 and last traded at $21.04. 9,864,622 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 18,211,057 shares. The stock had previously closed at $20.47.

Analyst Upgrades and Downgrades

USAR has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Northland Securities started coverage on USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Canaccord Genuity Group upped their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Wedbush raised their target price on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Price Performance

The company has a fifty day simple moving average of $24.21 and a 200-day simple moving average of $20.24. The company has a market cap of $4.46 billion, a P/E ratio of -5.10 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data 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 for the quarter. On average, analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction 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 transaction, the director owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.10% of the stock is owned by company insiders.

Institutional Trading of USA Rare Earth

A number of hedge funds have recently bought and sold shares of USAR. Alyeska Investment Group L.P. boosted its holdings in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after buying an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC purchased a new stake in shares of USA Rare Earth in the 4th quarter valued at approximately $102,378,000. Vanguard Group Inc. boosted its stake in USA Rare Earth by 533.3% in the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after purchasing an additional 5,083,288 shares during the period. State Street Corp boosted its stake in USA Rare Earth by 78.4% in the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after purchasing an additional 2,212,177 shares during the period. Finally, Inflection Point Holdings II LLC purchased a new position in USA Rare Earth during the 4th quarter worth approximately $37,188,000.

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.