USA Rare Earth (NASDAQ:USAR) Stock Price Down 12.7% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares fell 12.7% during mid-day trading on Monday . The company traded as low as $14.78 and last traded at $14.87. 9,544,304 shares traded hands during trading, an increase of 63% from the average session volume of 5,841,659 shares. The stock had previously closed at $17.04.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on USAR shares. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. William Blair assumed coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Canaccord Genuity Group increased their target price on USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Performance

The company has a 50 day moving average of $20.01 and a two-hundred day moving average of $16.04. The stock has a market capitalization of $1.97 billion, a PE ratio of -28.60 and a beta of 0.91.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently made changes to their positions in USAR. NewEdge Advisors LLC raised its stake in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of USA Rare Earth by 10,448.0% in the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after purchasing an additional 2,612 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares during the period. Osaic Holdings Inc. purchased a new stake in USA Rare Earth in the second quarter valued at approximately $38,000. Finally, KLP Kapitalforvaltning AS acquired a new position in USA Rare Earth in the 3rd quarter worth approximately $69,000.

About USA Rare Earth

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.