USA Rare Earth (NASDAQ:USAR) Stock Price Down 5% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares traded down 5% during mid-day trading on Monday . The stock traded as low as $17.68 and last traded at $18.29. 14,910,419 shares were traded during trading, a decline of 10% from the average session volume of 16,629,719 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

USAR has been the subject of a number of analyst reports. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Wedbush raised their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Roth Capital decreased their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Nine 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, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Stock Performance

The company has a market capitalization of $4.33 billion, a P/E ratio of -7.99 and a beta of 2.55. The stock’s fifty day moving average price is $18.40 and its 200-day moving average price is $20.14.

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 company had revenue of $5.82 million during the quarter. On average, research analysts predict that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in USA Rare Earth during the second quarter worth $38,000. Ascentis Independent Advisors bought a new position in shares of USA Rare Earth in the first quarter valued at about $27,000. Ameritas Advisory Services LLC raised its position in shares of USA Rare Earth by 276.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock valued at $43,000 after purchasing an additional 1,459 shares during the period. First PREMIER Bank lifted its stake in shares of USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after buying an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after buying an additional 1,433 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.