USA Rare Earth (NASDAQ:USAR) Trading 2.2% Higher - Here's What Happened

Key Points

• USA Rare Earth shares rose 2.2% on Friday, trading as high as $27.61 before closing at $26.96, with volume below its recent average.
• Analysts remain largely positive on the stock: eight analysts rate it a Buy, one rates it Sell, and the consensus price target is $34.20.
• The company recently reported a quarterly loss of $0.19 per share, missing estimates, while revenue came in at $1.64 million; it is focused on developing its Round Top rare earth and lithium project in Texas.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) traded up 2.2% during trading on Friday . The company traded as high as $27.61 and last traded at $26.96. 16,429,967 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 18,850,039 shares. The stock had previously closed at $26.38.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Weiss Ratings restated a "sell (d-)" rating on shares of USA Rare Earth in a research note on Friday, March 27th. Cantor Fitzgerald raised their target price 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. Benchmark initiated coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They set a "buy" rating for the company. Finally, Wedbush assumed coverage on USA Rare Earth in a report on Monday, April 20th. They issued an "outperform" rating and a $29.00 price target for the company. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, USA Rare Earth has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

USA Rare Earth Stock Performance

The stock's 50 day simple moving average is $19.33 and its 200-day simple moving average is $18.37. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -8.99 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $1.64 million for the quarter. On average, analysts expect that USA Rare Earth Inc. will post -0.76 EPS for the current fiscal year.

Institutional Trading of USA Rare Earth

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after purchasing an additional 1,424 shares during the period. Raymond James Financial Inc. purchased a new position in shares of USA Rare Earth in the second quarter worth about $223,000. Lighthouse Investment Partners LLC acquired a new stake in shares of USA Rare Earth during the second quarter worth about $329,000. Bank of America Corp DE boosted 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 valued at $2,659,000 after buying an additional 199,819 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in USA Rare Earth in the second quarter valued at approximately $145,000.

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.

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