Shares of USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) traded up 1.7% on Thursday . The stock traded as high as $19.44 and last traded at $19.25. Approximately 14,674,010 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 16,585,912 shares. The stock had previously closed at $18.92.
Analysts Set New Price Targets
Several research analysts have recently issued reports on USAR shares. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Roth Capital cut their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Wedbush upped their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.83.
Check Out Our Latest Research Report on USAR
USA Rare Earth Stock Up 1.7%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. On average, sell-side analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.
Insider Activity at USA Rare Earth
In other 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 completion of the transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.10% of the company’s stock.
Institutional Trading of USA Rare Earth
A number of large investors have recently made changes to their positions in the stock. Weiss Asset Management LP bought a new stake in USA Rare Earth during the 1st quarter worth approximately $17,103,000. Jennison Associates LLC purchased a new position in shares of USA Rare Earth during the 4th quarter valued at $1,586,000. Encompass Capital Advisors LLC purchased a new stake in USA Rare Earth in the 1st quarter worth $7,038,000. BlackRock Inc. purchased a new stake in USA Rare Earth in the 2nd quarter worth $335,795,000. Finally, Swiss National Bank raised its holdings in USA Rare Earth by 67.6% during the first quarter. Swiss National Bank now owns 150,500 shares of the company’s stock valued at $2,278,000 after acquiring an additional 60,700 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.
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