USA Rare Earth (NASDAQ:USAR) Shares Up 2.3% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $17.74 and last traded at $17.51. 7,734,385 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 5,763,552 shares. The stock had previously closed at $17.12.

Analysts Set New Price Targets

Several research firms recently issued reports on USAR. Roth Capital set a $40.00 price objective on USA Rare Earth in a research note on Friday, October 10th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a research report on Monday, December 1st. UBS Group reissued a “buy” rating on shares of USA Rare Earth in a report on Monday. Finally, William Blair started coverage on USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Up 2.3%

The stock has a market cap of $2.32 billion, a PE ratio of -33.67 and a beta of 0.92. The business has a 50 day moving average price of $20.30 and a 200 day moving average price of $15.79.

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

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of USA Rare Earth in the 3rd quarter worth $8,304,000. IFP Advisors Inc acquired a new position in USA Rare Earth in the 3rd quarter valued at approximately $214,000. Advisory Services Network LLC raised its position in USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after acquiring an additional 1,032 shares in the last quarter. XTX Topco Ltd acquired a new stake in USA Rare Earth in the 3rd quarter worth approximately $686,000. Finally, Alyeska Investment Group L.P. boosted its stake in USA Rare Earth by 44.0% during the 3rd 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 period.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.