USA Rare Earth (NASDAQ:USAR) Shares Down 2.5% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded down 2.5% during mid-day trading on Friday . The stock traded as low as $21.29 and last traded at $21.99. 14,272,310 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 18,530,422 shares. The stock had previously closed at $22.56.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Northland Securities assumed coverage on USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. 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. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Price Performance

The firm has a fifty day simple moving average of $22.71 and a 200-day simple moving average of $19.52. The firm has a market cap of $4.90 billion, a P/E ratio of -5.61 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. On average, equities analysts predict that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Activity

In other news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors have recently made changes to their positions in USAR. Bayshore Capital Advisors LLC purchased a new stake in shares of USA Rare Earth during the fourth quarter worth $102,378,000. Vanguard Group Inc. grew its stake in shares of USA Rare Earth by 533.3% in the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after purchasing an additional 5,083,288 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Inflection Point Holdings II LLC bought a new stake in shares of USA Rare Earth in the fourth quarter worth about $37,188,000. Finally, State Street Corp grew its stake in shares of USA Rare Earth by 78.4% in the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after purchasing an additional 2,212,177 shares during the last quarter.

USA Rare Earth Company Profile

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.