USA Rare Earth (NASDAQ:USAR) Shares Up 10.9% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares rose 10.9% during trading on Tuesday . The stock traded as high as $18.21 and last traded at $17.52. Approximately 17,270,954 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 13,477,015 shares. The stock had previously closed at $15.80.

Analyst Upgrades and Downgrades

USAR has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Canaccord Genuity Group upped their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research note on Friday, October 10th. Finally, UBS Group restated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Performance

The company has a 50 day moving average of $15.15 and a 200 day moving average of $16.28. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -33.69 and a beta of 0.96.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew its position in shares of USA Rare Earth by 158.2% in 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. SBI Securities Co. Ltd. boosted its stake in USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after buying an additional 2,612 shares during the last quarter. National Bank of Canada FI grew its holdings in USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in USA Rare Earth in the 2nd quarter valued at $38,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of USA Rare Earth in the 3rd quarter worth $69,000.

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.