USA Rare Earth (NASDAQ:USAR) Stock Price Down 6.4% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded down 6.4% on Thursday . The stock traded as low as $19.41 and last traded at $19.75. 10,555,662 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 21,021,508 shares. The stock had previously closed at $21.09.

Wall Street Analysts Forecast Growth

USAR has been the subject of several analyst reports. Benchmark began coverage on shares of USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating for the company. Cantor Fitzgerald lifted their price objective on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Canaccord Genuity Group increased their target price on USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Roth Mkm raised 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. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

USA Rare Earth Trading Down 1.5%

The stock’s 50 day moving average price is $20.07 and its two-hundred day moving average price is $18.58. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -37.42 and a beta of 1.05.

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco bought 1,300 shares of the stock in a transaction on Thursday, January 29th. The shares were bought at an average cost of $22.60 per share, for a total transaction of $29,380.00. Following the completion of the transaction, the director owned 1,300 shares of the company’s stock, valued at $29,380. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Blitzer bought 100,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was bought at an average cost of $21.44 per share, with a total value of $2,144,000.00. Following the completion of the acquisition, the director owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% 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.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently bought and sold shares of USAR. Calamos Advisors LLC purchased a new stake in USA Rare Earth during the third quarter worth $3,283,000. Farther Finance Advisors LLC increased its position in shares of USA Rare Earth by 1,461,225.0% in the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock valued at $1,005,000 after buying an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. purchased a new position in shares of USA Rare Earth in the third quarter valued at $13,554,000. Guild Investment Management Inc. acquired a new position in shares of USA Rare Earth during the 3rd quarter worth $1,080,000. Finally, Sovran Advisors LLC acquired a new position in shares of USA Rare Earth during the 3rd quarter worth $3,832,000.

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.