USA Rare Earth (NASDAQ:USAR) Trading Down 7.8% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded down 7.8% during trading on Thursday . The company traded as low as $25.80 and last traded at $26.38. 17,308,297 shares traded hands during trading, a decline of 8% from the average session volume of 18,869,490 shares. The stock had previously closed at $28.60.

Analyst Ratings Changes

Several research firms recently weighed in on USAR. Northland Securities started coverage on USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Benchmark began coverage on USA Rare Earth in a research note on Wednesday, January 21st. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Friday, March 27th. Cantor Fitzgerald raised their price target on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Canaccord Genuity Group raised their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.20.

USA Rare Earth Price Performance

The company has a fifty day simple moving average of $19.21 and a 200-day simple moving average of $18.38. The company has a market cap of $5.75 billion, a P/E ratio of -8.79 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The company had revenue of $1.64 million during the quarter. On average, analysts anticipate that USA Rare Earth Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently modified their holdings of USAR. NewEdge Advisors LLC grew 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 valued at $25,000 after purchasing an additional 1,424 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of USA Rare Earth during the 2nd quarter valued at $223,000. Lighthouse Investment Partners LLC acquired a new stake in shares of USA Rare Earth in the second quarter worth about $329,000. Bank of America Corp DE boosted its position in USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after purchasing an additional 199,819 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of USA Rare Earth during the 2nd quarter worth $145,000.

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.