USA Rare Earth (NASDAQ:USAR) Shares Up 11% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 11% during mid-day trading on Friday . The company traded as high as $19.62 and last traded at $19.33. 18,831,587 shares were traded during trading, an increase of 12% from the average daily volume of 16,841,369 shares. The stock had previously closed at $17.41.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Roth Capital lowered their price objective on shares of 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. Needham & Company LLC dropped their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.83.

USA Rare Earth Stock Up 11.0%

The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -4.93 and a beta of 2.55. The stock has a fifty day moving average price of $19.71 and a 200-day moving average price of $20.51.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. As a group, research analysts expect that USA Rare Earth Inc. will post -0.35 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 company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Several hedge funds and other institutional investors have recently made changes to their positions in USAR. Larson Financial Group LLC raised its holdings in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in USA Rare Earth by 158.2% in the 2nd 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. Ascentis Independent Advisors acquired a new position in USA Rare Earth during the 1st quarter worth approximately $27,000. Center for Financial Planning Inc. acquired a new position in USA Rare Earth during the 4th quarter worth approximately $28,000. Finally, Havemeyer Place LP purchased a new position in shares of USA Rare Earth during the 4th quarter worth approximately $33,000.

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.