USA Rare Earth (NASDAQ:USAR) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

USA Rare Earth (NASDAQ:USAR) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19), Zacks reports.

USA Rare Earth Stock Up 9.7%

USA Rare Earth stock traded up $1.54 during mid-day trading on Friday, reaching $17.36. 15,731,173 shares of the company’s stock traded hands, compared to its average volume of 22,090,004. USA Rare Earth has a 12-month low of $5.56 and a 12-month high of $43.98. The stock has a 50 day moving average of $20.63 and a two-hundred day moving average of $15.11. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -64.30 and a beta of 0.77.

Insider Buying and Selling at USA Rare Earth

In related news, Director Michael Blitzer sold 2,091,849 shares of USA Rare Earth stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total value of $32,946,621.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors have recently modified their holdings of USAR. Vanguard Group Inc. increased its position in shares of USA Rare Earth by 9.9% during 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 during the last quarter. Bank of America Corp DE boosted its stake in USA Rare Earth by 465.7% during 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. Advisory Services Network LLC bought a new position in USA Rare Earth during the second quarter valued at $562,000. JPMorgan Chase & Co. bought a new position in USA Rare Earth during the third quarter valued at $734,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of USA Rare Earth in the second quarter valued at $329,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on USAR shares. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. William Blair started coverage on shares of USA Rare Earth in a report on Monday, October 20th. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a research note on Wednesday, October 8th. Canaccord Genuity Group lifted their price target on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday. Finally, Roth Capital set a $40.00 price target on shares of USA Rare Earth in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.33.

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.