USA Rare Earth (NASDAQ:USAR) Trading Up 7.1% – What’s Next?

by · The Markets Daily

USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s share price shot up 7.1% during trading on Tuesday . The company traded as high as $15.49 and last traded at $15.48. 4,156,043 shares traded hands during trading, a decline of 24% from the average session volume of 5,472,367 shares. The stock had previously closed at $14.45.

Analyst Ratings Changes

USAR has been the topic of a number of recent research reports. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a report on Thursday. Cantor Fitzgerald assumed coverage on USA Rare Earth in a research report on Friday, August 1st. They set an “overweight” rating and a $16.00 price objective for the company. Canaccord Genuity Group raised their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, William Blair assumed coverage on USA Rare Earth in a research report on Monday, October 20th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, USA Rare Earth currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

Get Our Latest Stock Report on USA Rare Earth

USA Rare Earth Trading Up 6.5%

The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -29.60 and a beta of 0.77. The firm’s 50 day moving average is $20.86 and its two-hundred day moving average is $15.34.

USA Rare Earth (NASDAQ:USAR – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USAR. Alyeska Investment Group L.P. grew its holdings in USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after purchasing an additional 3,909,455 shares during the period. Vanguard Group Inc. lifted its stake in shares of USA Rare Earth by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 953,198 shares of the company’s stock valued at $16,385,000 after purchasing an additional 86,134 shares in the last quarter. Altfest L J & Co. Inc. purchased a new stake in shares of USA Rare Earth during the 3rd quarter worth about $13,554,000. Newtyn Management LLC acquired a new stake in USA Rare Earth during the 1st quarter worth approximately $4,114,000. Finally, Geode Capital Management LLC increased its position in USA Rare Earth by 2,437.5% during the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after purchasing an additional 627,545 shares in the last quarter.

USA Rare Earth Company Profile

(Get Free Report)

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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