USA Rare Earth (NASDAQ:USAR) Trading Up 1.5% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shot up 1.5% during mid-day trading on Thursday . The stock traded as high as $18.01 and last traded at $17.41. Approximately 10,347,504 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 16,833,854 shares. The stock had previously closed at $17.16.

Analysts Set New Price Targets

A number of research firms have issued reports on USAR. Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Needham & Company LLC dropped their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Northland Securities assumed coverage on USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

USA Rare Earth Stock Performance

The stock has a market capitalization of $3.88 billion, a P/E ratio of -4.44 and a beta of 2.55. The business has a 50 day simple moving average of $20.10 and a 200-day simple moving average of $20.52.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. Equities research analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayshore Capital Advisors LLC bought a new stake in shares of USA Rare Earth during the 4th quarter worth $102,378,000. Vanguard Group Inc. lifted its holdings in shares of USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of USA Rare Earth by 44.0% in 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. Inflection Point Holdings II LLC purchased a new position in USA Rare Earth in the 4th quarter worth about $37,188,000. Finally, State Street Corp lifted its stake in USA Rare Earth by 78.4% during the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after buying an additional 2,212,177 shares in the last quarter.

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.