USA Rare Earth (NASDAQ:USAR) Stock Price Up 7.2% - Here's What Happened

Key Points

• Shares of USA Rare Earth jumped 7.2% to $27.42 on Tuesday, trading as high as $27.65 on volume of ~24.0 million shares, about 27% above its average daily volume.
• Analysts have recently raised price targets and the stock holds a consensus rating of Moderate Buy with a consensus price target of $34.20.
• The development-stage miner has a market cap of $5.98 billion but reported quarterly EPS of ($0.19), missing estimates by $0.07, and analysts forecast a full-year EPS of -0.76, signaling ongoing losses despite project progress.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price rose 7.2% during trading on Tuesday . The stock traded as high as $27.65 and last traded at $27.42. Approximately 24,038,302 shares traded hands during trading, an increase of 27% from the average daily volume of 18,893,482 shares. The stock had previously closed at $25.58.

Analysts Set New Price Targets

USAR has been the topic of a number of research analyst reports. Wedbush initiated coverage on shares of USA Rare Earth in a research note on Monday, April 20th. They set an "outperform" rating and a $29.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a research note on Friday, March 27th. Cantor Fitzgerald increased their price objective on shares of USA Rare Earth from $28.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a research note on Monday, April 20th. Finally, Canaccord Genuity Group increased their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

USA Rare Earth Stock Up 7.2%

The company has a 50 day moving average of $18.81 and a 200-day moving average of $18.43. The stock has a market capitalization of $5.98 billion, a P/E ratio of -9.14 and a beta of 2.38.

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 (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million during the quarter. Equities analysts forecast that USA Rare Earth Inc. will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Several large investors have recently added to or reduced their stakes in USAR. NewEdge Advisors LLC increased its position in USA Rare Earth by 158.2% in the second 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. Raymond James Financial Inc. acquired a new stake in USA Rare Earth in the second quarter worth $223,000. Lighthouse Investment Partners LLC acquired a new stake in USA Rare Earth in the second quarter worth $329,000. Bank of America Corp DE increased its position in USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock worth $2,659,000 after buying an additional 199,819 shares during the period. Finally, LMR Partners LLP acquired a new stake in USA Rare Earth in the second quarter worth $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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