Shares of USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shot up 8.3% during trading on Wednesday . The stock traded as high as $24.49 and last traded at $23.55. 19,648,352 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 18,452,348 shares. The stock had previously closed at $21.74.
Analyst Ratings Changes
Several research firms have commented on USAR. Roth Mkm reissued a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Northland Securities began coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.83.
View Our Latest Stock Analysis on USAR
USA Rare Earth Trading Up 8.3%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. Analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current year.
Insider Buying and Selling
In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On USA Rare Earth
Several hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its position in USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after buying an additional 829 shares during the period. Pier 88 Investment Partners LLC boosted its position in USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock worth $413,000 after buying an additional 840 shares during the period. SBI Securities Co. Ltd. boosted its position in USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after buying an additional 936 shares during the period. Advisory Services Network LLC boosted its position in USA Rare Earth by 2.0% during the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after buying an additional 1,032 shares during the period. Finally, National Bank of Canada FI boosted its position in USA Rare Earth by 110.0% during the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the period.
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.
Featured Stories
- Five stocks we like better than USA Rare Earth
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Receive News & Ratings for USA Rare Earth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for USA Rare Earth and related companies with MarketBeat.com's FREE daily email newsletter.
