USA Rare Earth (NASDAQ:USAR) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

USA Rare Earth (NASDAQ:USAR) issued its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19), Zacks reports.

USA Rare Earth Trading Down 6.2%

USA Rare Earth stock traded down $1.05 during midday trading on Thursday, reaching $15.82. The company’s stock had a trading volume of 14,278,622 shares, compared to its average volume of 5,330,032. The business has a 50-day moving average price of $20.57 and a 200-day moving average price of $15.06. USA Rare Earth has a 52 week low of $5.56 and a 52 week high of $43.98. The stock has a market cap of $1.80 billion, a PE ratio of -58.59 and a beta of 0.77.

Analysts Set New Price Targets

USAR has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on USA Rare Earth in a research note on Friday, August 1st. They issued an “overweight” rating and a $16.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Wednesday, October 8th. William Blair assumed coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating for the company. Wall Street Zen cut shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a document filed with the SEC, which is available at this link. 46.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares in the last quarter. Osaic Holdings Inc. acquired a new position in USA Rare Earth in the 2nd quarter worth about $38,000. LMR Partners LLP bought a new position in USA Rare Earth in the second quarter valued at about $145,000. Raymond James Financial Inc. acquired a new stake in shares of USA Rare Earth during the second quarter valued at about $223,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of USA Rare Earth during the second quarter worth about $329,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.