USA Rare Earth (NASDAQ:USAR) Trading 6.4% Higher – Here’s What Happened
by Kim Johansen · The Markets DailyUSA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s stock price rose 6.4% on Tuesday . The stock traded as high as $15.22 and last traded at $15.1350. Approximately 13,186,035 shares traded hands during trading, a decline of 32% from the average daily volume of 19,330,717 shares. The stock had previously closed at $14.23.
Wall Street Analysts Forecast Growth
USAR has been the subject of a number of analyst reports. Roth Mkm raised their price target on USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday, March 27th. Canaccord Genuity Group lowered their target price on shares of USA Rare Earth from $33.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Finally, Cantor Fitzgerald increased their price objective on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.
Check Out Our Latest Stock Analysis on USA Rare Earth
USA Rare Earth Trading Up 8.0%
The company has a 50-day simple moving average of $19.87 and a 200 day simple moving average of $18.82. The company has a market cap of $2.12 billion, a P/E ratio of -5.32 and a beta of 1.34.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last released its earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $1.64 million during the quarter.
Insider Activity
In related news, Director Michael Blitzer acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was bought at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the acquisition, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Trabuco acquired 1,300 shares of the stock in a transaction on Thursday, January 29th. The stock was bought at an average cost of $22.60 per share, with a total value of $29,380.00. Following the completion of the transaction, the director owned 1,300 shares in the company, valued at $29,380. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 46.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of USAR. Larson Financial Group LLC increased its holdings in USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of USA Rare Earth by 158.2% in the 2nd 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. Center for Financial Planning Inc. bought a new position in shares of USA Rare Earth during the 4th quarter worth $28,000. Havemeyer Place LP bought a new position in shares of USA Rare Earth during the 4th quarter worth $33,000. Finally, National Bank of Canada FI increased its stake in shares of USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the period.
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.