USA Rare Earth (NASDAQ:USAR) Sets New 52-Week Low – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $9.72 and last traded at $9.9430, with a volume of 1,760,134 shares traded. The stock had previously closed at $10.09.

Analysts Set New Price Targets

Several analysts recently issued reports on USAR shares. Roth Capital decreased their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Needham & Company LLC lowered their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group began coverage on shares of USA Rare Earth in a report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Trading Up 1.7%

The firm’s fifty day simple moving average is $15.51 and its 200 day simple moving average is $19.01.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. On average, equities research analysts forecast that USA Rare Earth Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in USA Rare Earth in the 2nd quarter worth approximately $335,795,000. Bank of America Corp DE purchased a new stake in shares of USA Rare Earth during the 2nd quarter worth approximately $32,762,000. Weiss Asset Management LP bought a new position in shares of USA Rare Earth during the 1st quarter valued at approximately $17,103,000. Korea Investment CORP bought a new position in shares of USA Rare Earth during the 2nd quarter valued at approximately $18,108,000. Finally, Bank of New York Mellon Corp bought a new position in shares of USA Rare Earth during the 2nd quarter valued at approximately $13,510,000.

USA Rare Earth Company Profile

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.