USA Rare Earth (NASDAQ:USAR) Stock Price Up 14.6% - Here's What Happened

Key Points

• Shares jumped 14.6% to about $16.78 intraday on Wednesday, with roughly 15.33 million shares traded (about 18% below the average), up from a $14.64 close.
• Analysts maintain a consensus of "Moderate Buy" (six Buy ratings, one Sell) and a consensus target of $33, with several firms (Cantor Fitzgerald, Roth MKM) raising targets recently while Canaccord trimmed theirs.
• USA Rare Earth is a development-stage company advancing the Round Top REE/lithium project; it reported Q1 EPS of ($0.19) on $1.64M revenue and has a $3.65B market cap, while insiders own 46.6% and Director Michael Blitzer bought 100,000 shares at $21.44.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price shot up 14.6% on Wednesday . The company traded as high as $16.98 and last traded at $16.78. 15,329,953 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 18,794,945 shares. The stock had previously closed at $14.64.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USAR. Cantor Fitzgerald lifted their target price on USA Rare Earth from $28.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Benchmark began coverage on USA Rare Earth in a research report on Wednesday, January 21st. They set a "buy" rating on the stock. Canaccord Genuity Group cut their target price on USA Rare Earth from $33.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a research report on Friday, March 27th. Finally, Roth Mkm lifted their target price 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

USA Rare Earth Stock Up 14.5%

The stock has a fifty day moving average of $19.09 and a 200-day moving average of $18.85. The stock has a market cap of $3.65 billion, a PE ratio of -5.59 and a beta of 1.34.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.07). The business had revenue of $1.64 million during the quarter.

Insider Buying and Selling

In other news, Director Michael Blitzer purchased 100,000 shares of the firm's stock in a transaction dated Thursday, January 29th. The shares were acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the purchase, the director directly owned 847,500 shares of the company's stock, valued at $18,170,400. The trade was a 13.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn Trabuco bought 1,300 shares of the firm's stock in a transaction on Thursday, January 29th. The shares were purchased 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 owned 1,300 shares of the company's stock, valued at $29,380. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 46.60% of the stock is currently owned by insiders.

Institutional Trading of USA Rare Earth

A number of institutional investors have recently bought and sold shares of USAR. NewEdge Advisors LLC boosted its position in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock worth $25,000 after purchasing an additional 1,424 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $223,000. Lighthouse Investment Partners LLC purchased a new stake in USA Rare Earth in the 2nd quarter valued at approximately $329,000. Bank of America Corp DE lifted its stake in USA Rare Earth by 465.7% in the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock valued at $2,659,000 after buying an additional 199,819 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in USA Rare Earth in the 2nd quarter valued at approximately $145,000.

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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