USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.1% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares fell 3.1% on Tuesday . The company traded as low as $16.96 and last traded at $17.26. 9,825,752 shares changed hands during trading, a decline of 40% from the average daily volume of 16,469,271 shares. The stock had previously closed at $17.82.

Analyst Ratings Changes

A number of equities analysts recently issued reports on USAR shares. Needham & Company LLC decreased their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Roth Capital dropped their price target on 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. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Price Performance

The firm has a market cap of $3.85 billion, a P/E ratio of -7.10 and a beta of 2.55. The firm’s 50 day moving average is $17.94 and its 200 day moving average is $20.04.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. As a group, analysts expect that USA Rare Earth Inc. will post -0.62 EPS 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 business’s stock in a transaction on Monday, June 8th. The stock was 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. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of USA Rare Earth in the 2nd quarter worth $335,795,000. Weiss Asset Management LP purchased a new stake in USA Rare Earth during the 1st quarter valued at $17,103,000. Jennison Associates LLC purchased a new position in shares of USA Rare Earth in the 4th quarter worth $1,586,000. Encompass Capital Advisors LLC purchased a new position in shares of USA Rare Earth in the 1st quarter worth $7,038,000. Finally, Swiss National Bank grew its holdings in shares of USA Rare Earth by 67.6% in the first quarter. Swiss National Bank now owns 150,500 shares of the company’s stock worth $2,278,000 after acquiring an additional 60,700 shares during the period.

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.