Brokerages Set USA Rare Earth Inc. (NASDAQ:USAR) Price Target at $36.83

Shares of USA Rare Earth Inc. (NASDAQ:USAR) have earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.8333.

USAR has been the subject of several analyst reports. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Northland Securities initiated coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective 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 research report on Tuesday, April 21st. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th.

USA Rare Earth Price Performance

NASDAQ:USAR opened at $14.15 on Wednesday. USA Rare Earth has a 12-month low of $10.91 and a 12-month high of $43.98. The firm has a market capitalization of $3.16 billion, a P/E ratio of -3.61 and a beta of 2.45. The business has a 50 day simple moving average of $21.53 and a 200 day simple moving average of $20.63.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. Research analysts anticipate that USA Rare Earth will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Several large investors have recently added to or reduced their stakes in USAR. Bayshore Capital Advisors LLC bought a new position in shares of USA Rare Earth in the fourth quarter worth $102,378,000. Vanguard Group Inc. increased its holdings in shares of USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of USA Rare Earth by 44.0% during 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. Inflection Point Holdings II LLC bought a new stake in shares of USA Rare Earth during the fourth quarter valued at about $37,188,000. Finally, State Street Corp raised its stake in shares of USA Rare Earth by 78.4% during the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter.

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.