USA Rare Earth (NASDAQ:USAR) Shares Down 7% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) dropped 7% during trading on Friday . The stock traded as low as $13.48 and last traded at $13.51. Approximately 1,510,882 shares traded hands during trading, a decline of 74% from the average daily volume of 5,914,415 shares. The stock had previously closed at $14.53.

Wall Street Analyst Weigh In

USAR has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday. William Blair began coverage on USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Canaccord Genuity Group lifted their price target on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. Six 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, the company currently has an average rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Stock Performance

The stock has a market capitalization of $1.80 billion, a PE ratio of -26.13 and a beta of 0.91. The firm has a 50 day moving average of $16.90 and a 200-day moving average of $16.23.

USA Rare Earth (NASDAQ:USAR) last issued its 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

A number of institutional investors have recently modified their holdings of USAR. NewEdge Advisors LLC raised its holdings in shares of USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. increased its position in USA Rare Earth by 10,448.0% in the 2nd 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 raised its stake in shares of USA Rare Earth by 110.0% during the 3rd 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 in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of USA Rare Earth during the 2nd quarter valued at about $38,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of USA Rare Earth during the 3rd quarter valued at about $69,000.

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.