USA Rare Earth (NASDAQ:USAR) Shares Down 2.9% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) was down 2.9% on Tuesday . The stock traded as low as $24.63 and last traded at $25.55. Approximately 14,438,611 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 18,804,000 shares. The stock had previously closed at $26.30.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on USAR shares. Wedbush lifted their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday. Northland Securities started coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Friday, March 27th. Benchmark started coverage on USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald lifted their price target on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.40.

USA Rare Earth Price Performance

The company has a market cap of $5.57 billion, a P/E ratio of -8.52 and a beta of 2.38. The company has a 50 day moving average of $19.59 and a 200-day moving average of $18.34.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million during the quarter. Research analysts anticipate that USA Rare Earth Inc. will post -0.76 EPS for the current year.

Institutional Investors Weigh In On USA Rare Earth

Hedge funds have recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in USA Rare Earth during the first quarter worth about $27,000. Larson Financial Group LLC lifted its stake in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares during the last quarter. National Bank of Canada FI lifted its stake in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares during the last quarter. KBC Group NV bought a new stake in USA Rare Earth during the first quarter worth about $35,000. Finally, NewEdge Advisors LLC lifted its stake in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares during the last quarter.

USA Rare Earth Company Profile

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.