USA Rare Earth (NASDAQ:USAR) Stock Price Up 3% – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price rose 3% during mid-day trading on Wednesday . The company traded as high as $14.67 and last traded at $14.53. Approximately 3,549,293 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 5,934,597 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on USAR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday. William Blair started coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Canaccord Genuity Group raised their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Roth Capital set a $40.00 target price on USA Rare Earth in a research report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, USA Rare Earth currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Price Performance

The stock has a market cap of $1.93 billion, a P/E ratio of -27.94 and a beta of 0.91. The firm’s fifty day moving average price is $17.56 and its two-hundred day moving average price is $16.26.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI lifted its position in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares during the last quarter. NewEdge Advisors LLC increased its holdings 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 buying an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of USA Rare Earth by 10,448.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock valued at $29,000 after buying an additional 2,612 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of USA Rare Earth during the 2nd quarter worth $38,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of USA Rare Earth during 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.