USA Rare Earth (NASDAQ:USAR) Trading 6.8% Higher - Should You Buy?

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares rose 6.8% during mid-day trading on Wednesday . The company traded as high as $12.90 and last traded at $12.82. Approximately 685,420 shares were traded during trading, a decline of 40% from the average daily volume of 1,135,055 shares. The stock had previously closed at $12.00.

Analysts Set New Price Targets

Several brokerages have weighed in on USAR. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a report on Friday. Wall Street Zen raised USA Rare Earth to a "sell" rating in a report on Saturday. Finally, Canaccord Genuity Group started coverage on USA Rare Earth in a report on Friday, June 13th. They issued a "buy" rating and a $17.00 price target for the company.

USA Rare Earth Price Performance

The firm's fifty day moving average is $10.75.

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

Hedge Funds Weigh In On USA Rare Earth

An institutional investor recently bought a new position in USA Rare Earth stock. Newtyn Management LLC acquired a new position in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth accounts for approximately 0.7% of Newtyn Management LLC's portfolio, making the stock its 24th largest holding. Newtyn Management LLC owned 0.85% of USA Rare Earth at the end of the most recent reporting period.

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.

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