USA Rare Earth (NASDAQ:USAR) Shares Down 2.7% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 2.7% on Thursday . The stock traded as low as $16.26 and last traded at $16.73. Approximately 7,103,875 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 12,085,806 shares. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USAR. Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. William Blair began coverage on USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. UBS Group restated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Finally, Canaccord Genuity Group lifted their target price on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Price Performance

The stock has a 50-day moving average of $15.04 and a 200-day moving average of $16.33. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -32.17 and a beta of 0.96.

USA Rare Earth (NASDAQ:USAR) last released its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Investors Weigh In On USA Rare Earth

A number of large investors have recently bought and sold shares of the company. Calamos Advisors LLC acquired a new stake in USA Rare Earth in the third quarter valued at about $3,283,000. Pier 88 Investment Partners LLC acquired a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $588,000. Farther Finance Advisors LLC grew its holdings in shares of USA Rare Earth by 1,461,225.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock valued at $1,005,000 after purchasing an additional 58,449 shares during the last quarter. Altfest L J & Co. Inc. bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at approximately $13,554,000. Finally, Darwin Wealth Management LLC acquired a new position in USA Rare Earth during the 3rd quarter worth approximately $693,000.

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.