USA Rare Earth (NASDAQ:USAR) Trading Down 2.7% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 2.7% on Wednesday . The company traded as low as $20.32 and last traded at $20.33. Approximately 13,194,867 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 18,606,004 shares. The stock had previously closed at $20.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on USAR shares. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Northland Securities assumed coverage on USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a report on Thursday, June 4th. Wedbush increased their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC assumed coverage on USA Rare Earth in a report on Monday, June 1st. They issued a “buy” rating and a $39.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Stock Performance

The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -5.19 and a beta of 2.33. The firm has a fifty day moving average of $22.44 and a 200-day moving average of $19.39.

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 firm had revenue of $5.70 million during the quarter. On average, analysts predict that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock valued at $56,000 after buying an additional 829 shares during the last quarter. Pier 88 Investment Partners LLC boosted its position in USA Rare Earth by 2.5% in the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after buying an additional 840 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in USA Rare Earth by 20.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after buying an additional 936 shares during the last quarter. Advisory Services Network LLC boosted its position in USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after buying an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter.

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.