USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shares shot up 7.5% during mid-day trading on Thursday. The stock traded as high as $11.13 and last traded at $11.09. Approximately 23,349,228 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 16,056,706 shares. The stock had previously closed at $10.32.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They set a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC decreased their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Roth Capital dropped their price objective on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.71.
View Our Latest Report on USA Rare Earth
USA Rare Earth Stock Up 7.5%
The stock has a market capitalization of $2.71 billion, a PE ratio of -4.56 and a beta of 2.66. The business’s 50-day moving average is $16.33 and its two-hundred day moving average is $19.17.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. As a group, analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current year.
Institutional Trading of USA Rare Earth
Several institutional investors and hedge funds have recently bought and sold shares of USAR. Carlson Financial Inc. lifted its position in USA Rare Earth by 5.7% during the 2nd quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock worth $254,000 after acquiring an additional 635 shares during the period. Sterling Capital Management LLC increased its holdings in shares of USA Rare Earth by 29.1% in the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock valued at $56,000 after purchasing an additional 829 shares during the period. First PREMIER Bank lifted its holdings in shares of USA Rare Earth by 100.0% during the second quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after purchasing an additional 1,000 shares during the period. State of Wyoming lifted its holdings in shares of USA Rare Earth by 100.4% during the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock worth $38,000 after purchasing an additional 1,257 shares during the period. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of USA Rare Earth by 276.3% during the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after purchasing an additional 1,459 shares during the period.
USA Rare Earth Company Profile
USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.
The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.
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