USA Rare Earth (NASDAQ:USAR) Shares Up 8.2% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price rose 8.2% during mid-day trading on Friday . The company traded as high as $13.61 and last traded at $13.45. Approximately 6,420,951 shares were traded during trading, an increase of 15% from the average daily volume of 5,587,944 shares. The stock had previously closed at $12.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. William Blair initiated coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating on the stock. Canaccord Genuity Group increased their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a report on Tuesday. Finally, Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Trading Up 8.2%

The stock has a 50 day simple moving average of $20.59 and a 200-day simple moving average of $15.42. The firm has a market cap of $1.78 billion, a PE ratio of -25.87 and a beta of 0.77.

USA Rare Earth (NASDAQ:USAR) last issued 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

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC lifted its holdings 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 worth $900,000 after buying an additional 1,032 shares during the period. National Bank of Canada FI raised its position in shares of 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 worth $36,000 after acquiring an additional 1,100 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of USA Rare Earth by 73.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock worth $79,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Osaic Holdings Inc. bought a new stake in USA Rare Earth during the second quarter valued at about $38,000.

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.