USA Rare Earth (NASDAQ:USAR) Shares Down 8.8% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 8.8% during mid-day trading on Friday . The stock traded as low as $15.80 and last traded at $16.24. Approximately 33,822,126 shares traded hands during mid-day trading, an increase of 66% from the average daily volume of 20,324,588 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

USAR has been the topic of a number of research reports. Roth Mkm boosted their price target on USA Rare Earth from $25.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Cantor Fitzgerald lifted their target price on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Benchmark started coverage on USA Rare Earth in a research note on Wednesday, January 21st. They issued a “buy” rating on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

USA Rare Earth Stock Performance

The firm’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $18.72. The stock has a market capitalization of $2.15 billion, a P/E ratio of -31.23 and a beta of 1.05.

Insider Transactions at USA Rare Earth

In related news, Director Michael Blitzer bought 100,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the completion of the transaction, the director owned 847,500 shares in the company, valued at $18,170,400. The trade was a 13.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Trabuco bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were bought at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the acquisition, the director directly owned 1,300 shares of the company’s stock, valued at $29,380. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently made changes to their positions in USAR. Larson Financial Group LLC boosted its holdings in shares of USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares during the last quarter. National Bank of Canada FI increased its holdings in 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 buying an additional 1,100 shares during the last quarter. NewEdge Advisors LLC raised its position in 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. Center for Financial Planning Inc. bought a new stake in USA Rare Earth during the fourth quarter worth $28,000. Finally, Havemeyer Place LP acquired a new stake in USA Rare Earth in the fourth quarter valued at $33,000.

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.