USA Rare Earth (NASDAQ:USAR) Stock Price Down 7% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 7% on Friday . The stock traded as low as $13.48 and last traded at $13.51. Approximately 1,510,882 shares changed hands during trading, a decline of 74% from the average daily volume of 5,914,415 shares. The stock had previously closed at $14.53.

Analyst Upgrades and Downgrades

USAR has been the topic of several analyst reports. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Canaccord Genuity Group upped their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Roth Capital set a $40.00 price target on USA Rare Earth in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday. Six 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 $26.33.

USA Rare Earth Stock Performance

The firm has a 50 day moving average of $16.90 and a two-hundred day moving average of $16.23. The stock has a market cap of $1.80 billion, a P/E ratio of -26.13 and a beta of 0.91.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in USAR. Pier 88 Investment Partners LLC bought a new position in shares of USA Rare Earth during the 2nd quarter worth about $588,000. Newtyn Management LLC acquired a new position in USA Rare Earth in the first quarter worth about $4,114,000. Titleist Asset Management LLC bought a new position in USA Rare Earth during the first quarter worth about $145,000. Geode Capital Management LLC boosted its holdings in USA Rare Earth by 2,437.5% during the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after purchasing an additional 627,545 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $250,000.

About USA Rare Earth

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.