USA Rare Earth (NASDAQ:USAR) Trading 17.5% Higher – Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded up 17.5% during mid-day trading on Thursday . The stock traded as high as $23.85 and last traded at $22.71. 30,752,499 shares traded hands during trading, an increase of 102% from the average session volume of 15,209,055 shares. The stock had previously closed at $19.33.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group restated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. William Blair began coverage on USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Roth Mkm set a $40.00 price target on USA Rare Earth in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Finally, Canaccord Genuity Group lifted their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Performance

The stock has a 50 day moving average of $15.10 and a two-hundred day moving average of $16.77. The firm has a market capitalization of $3.01 billion, a P/E ratio of -43.67 and a beta of 0.96.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of USAR. International Assets Investment Management LLC bought a new position in USA Rare Earth in the 2nd quarter worth $250,000. MMCAP International Inc. SPC acquired a new stake in shares of USA Rare Earth in the second quarter valued at about $261,000. Pier 88 Investment Partners LLC bought a new position in shares of USA Rare Earth in the second quarter worth about $588,000. SBI Securities Co. Ltd. increased its stake in shares of USA Rare Earth by 10,448.0% in the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after purchasing an additional 2,612 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of USA Rare Earth by 2,437.5% during the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after purchasing an additional 627,545 shares during 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.