USA Rare Earth (NASDAQ:USAR) Trading 7.6% Higher – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR) rose 7.6% during mid-day trading on Thursday . The stock traded as high as $16.33 and last traded at $15.92. Approximately 13,125,550 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 19,110,063 shares. The stock had previously closed at $14.80.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Roth Mkm raised their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Canaccord Genuity Group lowered their target price on shares of USA Rare Earth from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald increased their target price on USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Benchmark began coverage on USA Rare Earth in a report on Wednesday, January 21st. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

USA Rare Earth Price Performance

The business’s fifty day moving average price is $19.87 and its 200-day moving average price is $18.82. The stock has a market capitalization of $2.11 billion, a PE ratio of -5.31 and a beta of 1.34.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million for the quarter.

Insiders Place Their Bets

In other news, Director Carolyn Trabuco purchased 1,300 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were purchased at an average price of $22.60 per share, with a total value of $29,380.00. Following the completion of the acquisition, the director owned 1,300 shares in the company, valued at $29,380. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael Blitzer acquired 100,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the transaction, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of USAR. Geode Capital Management LLC lifted its position in USA Rare Earth by 2,437.5% during the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after purchasing an additional 627,545 shares during the last quarter. Diametric Capital LP purchased a new stake in shares of USA Rare Earth during the 2nd quarter valued at $147,000. NewEdge Advisors LLC lifted its holdings in shares of USA Rare Earth by 158.2% during 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 during the last quarter. Raymond James Financial Inc. purchased a new position in USA Rare Earth in the second quarter worth $223,000. Finally, Lighthouse Investment Partners LLC bought a new position in USA Rare Earth in the second quarter valued at $329,000.

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.