USA Rare Earth (NASDAQ:USAR) Trading Down 8.1% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 8.1% on Tuesday . The company traded as low as $17.29 and last traded at $17.78. 14,115,094 shares changed hands during trading, a decline of 21% from the average session volume of 17,955,221 shares. The stock had previously closed at $19.35.

Analyst Ratings Changes

A number of research analysts have recently commented on USAR shares. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Needham & Company LLC started coverage on USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price target for the company. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group upped their target price on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Trading Down 8.1%

The company has a market capitalization of $3.97 billion, a P/E ratio of -4.54 and a beta of 2.45. The company’s 50 day moving average is $23.89 and its 200-day moving average is $20.32.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. Analysts predict that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction 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 sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new stake in USA Rare Earth in the third quarter valued at approximately $8,304,000. Jennison Associates LLC acquired a new position in USA Rare Earth in the fourth quarter valued at approximately $1,586,000. JPMorgan Chase & Co. purchased a new stake in USA Rare Earth in the 3rd quarter worth approximately $734,000. Sovran Advisors LLC grew its stake in shares of USA Rare Earth by 119.7% during the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock worth $5,828,000 after purchasing an additional 266,783 shares during the period. Finally, Kercheville Advisors LLC boosted its stake in shares of USA Rare Earth by 272.0% during the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock worth $443,000 after acquiring an additional 27,200 shares in 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.