USA Rare Earth (NASDAQ:USAR) Trading Up 13.2% – Here’s Why

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were up 13.2% on Monday . The company traded as high as $23.69 and last traded at $22.58. Approximately 43,080,544 shares were traded during trading, an increase of 283% from the average daily volume of 11,242,571 shares. The stock had previously closed at $19.95.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on USAR shares. Benchmark started coverage on USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating on the stock. Roth Mkm set a $30.00 price objective on USA Rare Earth in a report on Monday. Cantor Fitzgerald upped their price objective on USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wedbush initiated coverage on shares of USA Rare Earth in a report on Monday. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Seven investment 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, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

USA Rare Earth Stock Up 11.2%

The company has a market cap of $5.54 billion, a price-to-earnings ratio of -8.47 and a beta of 1.34. The company has a fifty day simple moving average of $18.22 and a two-hundred day simple moving average of $18.83.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $1.64 million during the quarter. On average, research analysts predict that USA Rare Earth Inc. will post -0.25 EPS for the current year.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Michael Blitzer purchased 100,000 shares of the stock in a transaction dated Thursday, January 29th. The shares were acquired at an average cost of $21.44 per share, for a total transaction of $2,144,000.00. Following the completion of the transaction, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This trade represents a 13.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Trabuco purchased 1,300 shares of the stock in a transaction dated Thursday, January 29th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the completion of the transaction, the director directly owned 1,300 shares of the company’s stock, valued at approximately $29,380. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 46.60% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. lifted its stake in USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after buying an additional 3,909,455 shares in the last quarter. Bayshore Capital Advisors LLC acquired a new stake in shares of USA Rare Earth during the fourth quarter valued at $102,378,000. Vanguard Group Inc. boosted its stake in shares of USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after acquiring an additional 5,083,288 shares during the last quarter. State Street Corp lifted its holdings in USA Rare Earth by 78.4% in the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter. Finally, Inflection Point Holdings II LLC purchased a new position in USA Rare Earth in the 4th quarter valued at about $37,188,000.

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.