USA Rare Earth (NASDAQ:USAR) Trading 9.6% Higher - Time to Buy?

Key Points

• USA Rare Earth Inc. shares increased by 9.6%, reaching a last trading price of $12.22 with a significant rise in trading volume.
• Analysts are optimistic, with Roth Capital and Canaccord Genuity issuing "buy" ratings, while Wall Street Zen downgraded to a "sell" rating.
• The company is developing a vertically integrated supply chain for rare earth elements, with facilities in Oklahoma and rights to a critical minerals deposit in Texas.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares rose 9.6% during mid-day trading on Thursday . The stock traded as high as $12.25 and last traded at $12.22. Approximately 2,575,169 shares were traded during trading, an increase of 52% from the average daily volume of 1,694,292 shares. The stock had previously closed at $11.15.

Wall Street Analysts Forecast Growth

USAR has been the subject of several recent analyst reports. Canaccord Genuity Group initiated coverage on USA Rare Earth in a research note on Friday, June 13th. They set a "buy" rating and a $17.00 price target for the company. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a research note on Friday, June 13th. Cantor Fitzgerald began coverage on USA Rare Earth in a research note on Friday. They set an "overweight" rating and a $16.00 price target for the company. Finally, Wall Street Zen raised USA Rare Earth from a "strong sell" rating to a "hold" rating in a research report on Saturday.

USA Rare Earth Stock Up 3.7%

The company has a 50-day moving average price of $11.68.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.19) earnings per share for the quarter.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently made changes to their positions in the business. Titleist Asset Management LLC acquired a new position in USA Rare Earth in the 1st quarter valued at approximately $145,000. International Assets Investment Management LLC acquired a new position in USA Rare Earth in the 2nd quarter valued at approximately $250,000. Finally, Newtyn Management LLC acquired a new position in USA Rare Earth in the 1st quarter valued at approximately $4,114,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.