USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s stock price was up 3.8% during mid-day trading on Wednesday . The stock traded as high as $18.66 and last traded at $18.45. 9,283,685 shares were traded during mid-day trading, a decline of 48% from the average session volume of 17,896,707 shares. The stock had previously closed at $17.78.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on USAR shares. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a research report on Thursday, June 4th. Needham & Company LLC started coverage on USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 price objective on the stock. Canaccord Genuity Group raised their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Finally, Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.83.
Get Our Latest Research Report on USA Rare Earth
USA Rare Earth Stock Performance
USA Rare Earth (NASDAQ:USAR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, research analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current year.
Insiders Place Their Bets
In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On USA Rare Earth
A number of large investors have recently modified their holdings of USAR. Larson Financial Group LLC raised its stake in USA Rare Earth by 217.5% in the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after buying an additional 1,433 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares during the period. Ascentis Independent Advisors bought a new stake in USA Rare Earth during the 1st quarter valued at approximately $27,000. Center for Financial Planning Inc. purchased a new position in shares of USA Rare Earth during the 4th quarter worth approximately $28,000. Finally, Havemeyer Place LP purchased a new position in shares of USA Rare Earth during the 4th quarter worth approximately $33,000.
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.
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