USA Rare Earth (NASDAQ:USAR) Stock Price Down 4% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 4% during mid-day trading on Tuesday . The stock traded as low as $18.22 and last traded at $18.51. 8,749,636 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 16,672,332 shares. The stock had previously closed at $19.29.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on USAR shares. Roth Capital cut their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Canaccord Genuity Group raised their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Needham & Company LLC cut their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Northland Securities began coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, USA Rare Earth has an average rating of “Moderate Buy” and an average target price of $35.83.

USA Rare Earth Stock Down 4.0%

The stock has a 50 day moving average of $18.80 and a 200 day moving average of $20.35. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -7.62 and a beta of 2.55.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $5.82 million during the quarter. As a group, sell-side analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the sale, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in USA Rare Earth during the second quarter valued at $335,795,000. Alyeska Investment Group L.P. increased its stake in shares of USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after acquiring an additional 3,909,455 shares in the last quarter. Bayshore Capital Advisors LLC bought a new stake in shares of USA Rare Earth in the 4th quarter valued at $102,378,000. Vanguard Group Inc. lifted its position in shares of USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after acquiring an additional 5,083,288 shares during the period. Finally, State Street Corp lifted its position in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after acquiring an additional 2,212,177 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.