USA Rare Earth (NASDAQ:USAR) Shares Down 2.3% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 2.3% on Tuesday. The stock traded as low as $13.96 and last traded at $14.08. Approximately 12,121,537 shares traded hands during trading, a decline of 25% from the average session volume of 16,149,095 shares. The stock had previously closed at $14.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on USAR shares. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Needham & Company LLC decreased their target price on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Roth Capital reduced their target price on shares of 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, USA Rare Earth currently has an average rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Stock Down 2.4%

The company has a market cap of $3.44 billion, a PE ratio of -5.79 and a beta of 2.58. The company’s fifty day moving average is $16.89 and its 200-day moving average is $19.62.

USA Rare Earth (NASDAQ:USAR) last posted its 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 business had revenue of $5.82 million during the quarter. Equities research analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of USA Rare Earth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in USA Rare Earth in the 2nd quarter worth approximately $38,000. Ascentis Independent Advisors purchased a new stake in USA Rare Earth in the 1st quarter worth $27,000. Ameritas Advisory Services LLC lifted its position in shares of USA Rare Earth by 276.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after buying an additional 1,459 shares in the last quarter. First PREMIER Bank boosted its position in shares of USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock valued at $43,000 after acquiring an additional 1,000 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in USA Rare Earth during the second quarter valued at $43,000.

USA Rare Earth Company Profile

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.