USA Rare Earth (NASDAQ:USAR) Trading Down 2.7% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price dropped 2.7% during trading on Wednesday . The stock traded as low as $20.32 and last traded at $20.33. Approximately 13,194,867 shares were traded during trading, a decline of 29% from the average daily volume of 18,606,004 shares. The stock had previously closed at $20.90.

Analysts Set New Price Targets

USAR has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price target on the stock. Northland Securities initiated coverage on USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Canaccord Genuity Group boosted their price target on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wedbush boosted their price target on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Trading Down 2.7%

The stock has a market cap of $4.53 billion, a PE ratio of -5.19 and a beta of 2.33. The business has a 50 day moving average of $22.44 and a 200-day moving average of $19.39.

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, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. On average, equities research analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in USA Rare Earth in the first quarter valued at $27,000. Larson Financial Group LLC boosted its holdings in USA Rare Earth by 217.5% in the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after acquiring an additional 1,433 shares during the last quarter. National Bank of Canada FI boosted its holdings in USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. KBC Group NV acquired a new position in USA Rare Earth in the first quarter valued at $35,000. Finally, NewEdge Advisors LLC boosted its holdings in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the last quarter.

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.