USA Rare Earth (NASDAQ:USAR) Stock Price Up 7.1% – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR) shares were up 7.1% on Tuesday . The stock traded as high as $15.49 and last traded at $15.48. Approximately 4,156,043 shares traded hands during trading, a decline of 24% from the average daily volume of 5,472,367 shares. The stock had previously closed at $14.45.

Analysts Set New Price Targets

A number of brokerages have issued reports on USAR. Wall Street Zen downgraded USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of USA Rare Earth in a research report on Thursday. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research report on Friday, October 10th. Cantor Fitzgerald began coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They issued an “overweight” rating and a $16.00 target price on the stock. Finally, Canaccord Genuity Group boosted their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Price Performance

The business has a fifty day moving average of $20.86 and a 200 day moving average of $15.34. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -29.60 and a beta of 0.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. increased its stake in USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after buying an additional 3,909,455 shares during the period. Vanguard Group Inc. grew its stake in shares of USA Rare Earth by 9.9% in the third quarter. Vanguard Group Inc. now owns 953,198 shares of the company’s stock worth $16,385,000 after acquiring an additional 86,134 shares in the last quarter. Altfest L J & Co. Inc. purchased a new stake in shares of USA Rare Earth during the third quarter worth $13,554,000. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth in the first quarter valued at $4,114,000. Finally, Geode Capital Management LLC raised its stake in shares of USA Rare Earth by 2,437.5% in the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after acquiring an additional 627,545 shares in the last quarter.

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.