USA Rare Earth (NASDAQ:USAR) Trading 3.4% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was up 3.4% on Wednesday . The stock traded as high as $17.90 and last traded at $17.85. Approximately 7,990,337 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 16,419,045 shares. The stock had previously closed at $17.26.

Analysts Set New Price Targets

Several brokerages recently weighed in on USAR. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Wedbush increased their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Roth Capital lowered their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

USA Rare Earth Price Performance

The stock has a market cap of $3.98 billion, a P/E ratio of -7.35 and a beta of 2.58. The firm’s 50-day moving average price is $17.83 and its 200-day moving average price is $20.01.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. Sell-side analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other USA Rare Earth 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 transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake 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 buying an additional 1,424 shares during the last quarter. Raymond James Financial Inc. bought a new position in USA Rare Earth in the 2nd quarter valued at $223,000. Lighthouse Investment Partners LLC purchased a new stake in USA Rare Earth in the second quarter worth $329,000. Bank of America Corp DE increased its stake in USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after purchasing an additional 199,819 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of USA Rare Earth during the second quarter worth $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.