USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.5% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) dropped 3.5% on Thursday . The stock traded as low as $20.07 and last traded at $20.66. 11,739,020 shares changed hands during trading, a decline of 36% from the average daily volume of 18,300,332 shares. The stock had previously closed at $21.42.

Wall Street Analyst Weigh In

Several research firms recently weighed in on USAR. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Roth Mkm reissued a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Wedbush increased their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Finally, Northland Securities initiated coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Price Performance

The company has a market capitalization of $4.57 billion, a P/E ratio of -5.22 and a beta of 2.33. The company has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $20.16.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. As a group, sell-side analysts forecast that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in USA Rare Earth by 32.2% during the first quarter. Janus Henderson Group PLC now owns 34,456 shares of the company’s stock worth $521,000 after buying an additional 8,387 shares during the last quarter. California State Teachers Retirement System lifted its holdings in USA Rare Earth by 150.9% in the first quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock valued at $1,756,000 after buying an additional 69,787 shares during the period. Royal Bank of Canada boosted its position in USA Rare Earth by 46.5% during the first quarter. Royal Bank of Canada now owns 98,399 shares of the company’s stock valued at $1,489,000 after acquiring an additional 31,245 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in USA Rare Earth during the first quarter valued at $7,038,000. Finally, The Manufacturers Life Insurance Company grew its holdings in USA Rare Earth by 106.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 97,802 shares of the company’s stock worth $1,480,000 after acquiring an additional 50,409 shares during the period.

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.