USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.2% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) fell 4.2% during trading on Thursday . The stock traded as low as $18.54 and last traded at $19.15. Approximately 14,089,786 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 18,078,430 shares. The stock had previously closed at $19.98.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USAR shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday, June 4th. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Needham & Company LLC assumed coverage on shares of USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price target for the company. Wedbush boosted their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Northland Securities started coverage on USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Price Performance

The stock has a market cap of $4.27 billion, a PE ratio of -4.89 and a beta of 2.45. The firm has a 50 day moving average price of $23.96 and a 200 day moving average price of $20.25.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million during the quarter. Equities analysts forecast that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently modified their holdings of USAR. Sterling Capital Management LLC raised its position in shares of USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after acquiring an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC grew its stake in USA Rare Earth by 2.5% in the fourth quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after purchasing an additional 840 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in USA Rare Earth by 20.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after purchasing an additional 936 shares during the last quarter. Advisory Services Network LLC raised its holdings in USA Rare Earth by 2.0% in the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after purchasing an additional 1,032 shares in the last quarter. Finally, National Bank of Canada FI raised 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 worth $36,000 after purchasing an additional 1,100 shares in the last quarter.

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.