USA Rare Earth (NASDAQ:USAR) Shares Down 2.3% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded down 2.3% on Wednesday . The stock traded as low as $17.91 and last traded at $18.09. Approximately 9,193,926 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 16,630,283 shares. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

USAR has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Canaccord Genuity Group lifted their price target on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Needham & Company LLC dropped their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wedbush boosted their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Trading Down 2.3%

The company has a market cap of $4.03 billion, a P/E ratio of -7.44 and a beta of 2.55. The company has a 50 day moving average price of $18.75 and a 200-day moving average price of $20.30.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. Equities analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Insider Activity at USA Rare Earth

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction 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 completion of the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in shares of USA Rare Earth by 29.1% during the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC boosted its stake in shares of USA Rare Earth by 2.5% in the fourth quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after buying an additional 840 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after acquiring an additional 936 shares in the last quarter. Advisory Services Network LLC boosted its stake in USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after buying an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in 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.