USA Rare Earth (NASDAQ:USAR) Reaches New 52-Week Low – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares hit a new 52-week low on Monday. The stock traded as low as $8.86 and last traded at $8.9310, with a volume of 7,238,632 shares. The stock had previously closed at $9.62.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Roth Capital dropped their price target on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Needham & Company LLC lowered their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Texas Capital upgraded shares of USA Rare Earth to a “strong-buy” rating in a research note on Tuesday, October 20th. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group initiated coverage on USA Rare Earth in a report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Stock Down 8.0%

The business has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $18.81. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -3.64 and a beta of 2.66.

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

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently bought and sold shares of USAR. BlackRock Inc. purchased a new stake in shares of USA Rare Earth in the 2nd quarter worth about $335,795,000. Bank of America Corp DE acquired a new position in USA Rare Earth during the second quarter worth about $32,762,000. Korea Investment CORP acquired a new position in USA Rare Earth during the second quarter worth about $18,108,000. Weiss Asset Management LP purchased a new stake in shares of USA Rare Earth in the first quarter valued at about $17,103,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of USA Rare Earth in the second quarter valued at about $13,510,000.

About USA Rare Earth

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.