USA Rare Earth (NASDAQ:USAR) Stock Price Up 9.6% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares were up 9.6% on Tuesday . The company traded as high as $28.62 and last traded at $27.73. Approximately 23,368,956 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 18,702,982 shares. The stock had previously closed at $25.30.

Analysts Set New Price Targets

Several research firms recently weighed in on USAR. Northland Securities began coverage on USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. Cantor Fitzgerald boosted their target price on USA Rare Earth from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Roth Mkm set a $30.00 price target on USA Rare Earth in a report on Monday, April 20th. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Finally, Canaccord Genuity Group upped their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Price Performance

The company has a market cap of $6.04 billion, a P/E ratio of -7.07 and a beta of 2.38. The company’s 50-day moving average is $20.48 and its two-hundred day moving average is $18.57.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data 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 business had revenue of $5.70 million during the quarter. Equities research analysts anticipate that USA Rare Earth Inc. will post -0.33 EPS for the current year.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors have recently modified their holdings of USAR. Bayshore Capital Advisors LLC bought a new position in USA Rare Earth during the 4th quarter valued at about $102,378,000. Vanguard Group Inc. raised its holdings in shares of USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Inflection Point Holdings II LLC bought a new position in USA Rare Earth during the fourth quarter valued at approximately $37,188,000. Finally, State Street Corp boosted its holdings in USA Rare Earth by 78.4% in the fourth 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 last quarter.

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.