USA Rare Earth (NASDAQ:USAR) Trading Down 6.8% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 6.8% during mid-day trading on Wednesday . The company traded as low as $15.80 and last traded at $15.83. 13,103,925 shares traded hands during trading, a decline of 19% from the average daily volume of 16,229,658 shares. The stock had previously closed at $16.99.

Analyst Ratings Changes

Several equities analysts recently issued reports on USAR shares. Needham & Company LLC lowered their price target on 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. Weiss Ratings lowered USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group started coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Stock Down 6.9%

The company has a market cap of $3.87 billion, a P/E ratio of -6.51 and a beta of 2.58. The firm has a fifty day moving average price of $16.96 and a 200 day moving average price of $19.72.

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

Institutional Trading of USA Rare Earth

A number of institutional investors and hedge funds have recently modified their holdings of USAR. BlackRock Inc. acquired a new stake in USA Rare Earth during the 2nd quarter worth approximately $335,795,000. Weiss Asset Management LP bought a new stake in shares of USA Rare Earth during the first quarter worth $17,103,000. Encompass Capital Advisors LLC bought a new stake in USA Rare Earth in the 1st quarter valued at $7,038,000. Swiss National Bank raised its stake in shares of USA Rare Earth by 67.6% in the 1st quarter. Swiss National Bank now owns 150,500 shares of the company’s stock valued at $2,278,000 after purchasing an additional 60,700 shares during the period. Finally, Man Group plc acquired a new stake in shares of USA Rare Earth in the second quarter valued at approximately $2,562,000.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-focused critical minerals company developing an integrated rare earth supply chain. Its activities center on the production of rare earth materials used in permanent magnets, electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s principal asset is the Round Top rare earth and critical minerals project in Hudspeth County, Texas. USA Rare Earth is advancing plans to mine and process ore from Round Top and produce separated rare earth oxides and other critical mineral products, including materials containing neodymium, praseodymium, dysprosium and terbium.