USA Rare Earth (NASDAQ:USAR) Stock Price Down 12.8% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price dropped 12.8% on Monday . The company traded as low as $20.82 and last traded at $21.28. Approximately 19,411,076 shares changed hands during trading, an increase of 4% from the average daily volume of 18,717,502 shares. The stock had previously closed at $24.39.

Analysts Set New Price Targets

A number of research firms have recently commented on USAR. Canaccord Genuity Group boosted 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 report on Tuesday, April 21st. Wedbush lifted their price objective on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Benchmark initiated coverage on USA Rare Earth in a research report on Wednesday, January 21st. They set a “buy” rating for the company. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Northland Securities assumed coverage on USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

USA Rare Earth Trading Down 12.8%

The stock’s fifty day moving average price is $20.03 and its 200 day moving average price is $18.39. The stock has a market cap of $4.64 billion, a P/E ratio of -5.43 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. On average, analysts anticipate that USA Rare Earth Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors have recently modified their holdings of USAR. Larson Financial Group LLC raised its holdings in shares of USA Rare Earth by 217.5% during 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 in the last quarter. NewEdge Advisors LLC boosted its stake in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in USA Rare Earth in the first quarter worth approximately $27,000. Center for Financial Planning Inc. bought a new position in USA Rare Earth during the fourth quarter valued at approximately $28,000. Finally, Havemeyer Place LP bought a new position in USA Rare Earth during the fourth quarter valued at approximately $33,000.

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.