USA Rare Earth (NASDAQ:USAR) Shares Down 1.6% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares were down 1.6% on Friday . The stock traded as low as $15.12 and last traded at $15.65. 9,774,773 shares traded hands during trading, a decline of 44% from the average session volume of 17,441,457 shares. The stock had previously closed at $15.91.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on USAR shares. Wedbush raised their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a report on Thursday, June 4th. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Finally, Canaccord Genuity Group boosted their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Down 1.6%

The stock has a market capitalization of $3.49 billion, a P/E ratio of -3.99 and a beta of 2.45. The company’s 50-day moving average is $22.53 and its two-hundred day moving average is $20.50.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. Sell-side analysts expect 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 that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Several large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock valued at $56,000 after buying an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC raised its position in shares of USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock worth $413,000 after buying an additional 840 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after buying an additional 936 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after acquiring an additional 1,032 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares during the period.

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.