USA Rare Earth (NASDAQ:USAR) Shares Down 5.9% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 5.9% on Monday. The company traded as low as $11.80 and last traded at $11.82. 12,797,492 shares were traded during trading, a decline of 20% from the average session volume of 16,004,213 shares. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

Several brokerages have weighed in on USAR. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Roth Capital cut their price target on 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. Needham & Company LLC cut their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group assumed coverage on USA Rare Earth in a report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Stock Down 5.9%

The firm has a market cap of $2.89 billion, a PE ratio of -4.86 and a beta of 2.66. The company’s fifty day moving average price is $16.67 and its two-hundred day moving average price is $19.28.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly 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. As a group, analysts predict that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On USA Rare Earth

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of USA Rare Earth by 55.2% during the 3rd quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock worth $81,000 after buying an additional 2,042 shares in the last quarter. Overbrook Management Corp acquired a new stake in shares of USA Rare Earth in the 3rd quarter valued at approximately $3,145,000. Farther Finance Advisors LLC lifted its holdings in shares of USA Rare Earth by 41.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,829 shares of the company’s stock valued at $265,000 after buying an additional 5,540 shares during the period. MCF Advisors LLC acquired a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $43,000. Finally, RFG Advisory LLC grew its holdings in USA Rare Earth by 459.1% during the second quarter. RFG Advisory LLC now owns 59,835 shares of the company’s stock worth $1,291,000 after acquiring an additional 49,133 shares during the period.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.