USA Rare Earth (NASDAQ:USAR) Trading 1.4% Higher – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded up 1.4% during mid-day trading on Friday . The stock traded as high as $26.72 and last traded at $26.33. 24,334,484 shares traded hands during trading, an increase of 29% from the average session volume of 18,826,258 shares. The stock had previously closed at $25.97.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Northland Securities assumed coverage on shares of USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Canaccord Genuity Group boosted their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Friday, March 27th. Roth Mkm set a $30.00 price target on shares of USA Rare Earth in a research report on Monday, April 20th. Finally, Cantor Fitzgerald boosted their price target on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

USA Rare Earth Price Performance

The firm’s 50-day moving average is $18.81 and its two-hundred day moving average is $18.56. The company has a market cap of $5.74 billion, a P/E ratio of -8.78 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million for the quarter. As a group, sell-side analysts expect that USA Rare Earth Inc. will post -0.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new position in USA Rare Earth during the third quarter valued at $8,304,000. JPMorgan Chase & Co. bought a new position in USA Rare Earth during the third quarter valued at $734,000. Guild Investment Management Inc. bought a new position in USA Rare Earth during the third quarter valued at $1,080,000. Sovran Advisors LLC increased its position in USA Rare Earth by 119.7% during the fourth quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock valued at $5,828,000 after acquiring an additional 266,783 shares during the last quarter. Finally, Altfest L J & Co. Inc. bought a new position in USA Rare Earth during the third quarter valued at $13,554,000.

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.