USA Rare Earth (NASDAQ:USAR) Shares Down 17.1% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares traded down 17.1% during trading on Friday . The company traded as low as $22.27 and last traded at $22.47. 19,866,997 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 18,637,961 shares. The stock had previously closed at $27.10.

Wall Street Analyst Weigh In

Several research analysts have weighed in on USAR shares. Roth Mkm reiterated a “buy” rating on shares of USA Rare Earth in a report on Thursday. Needham & Company LLC assumed coverage on USA Rare Earth in a research report on Monday. They set a “buy” rating and a $39.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday. Wedbush increased their target price on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Stock Performance

The stock has a fifty day simple moving average of $22.09 and a 200-day simple moving average of $19.23. The stock has a market cap of $5.01 billion, a P/E ratio of -5.73 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. On average, research analysts anticipate that USA Rare Earth Inc. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently made changes to their positions in USAR. Sterling Capital Management LLC grew its holdings 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 valued at $56,000 after acquiring an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC raised its holdings in USA Rare Earth by 2.5% during the fourth quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock worth $413,000 after acquiring an additional 840 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in USA Rare Earth by 20.4% during 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 grew its stake 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 valued at $900,000 after purchasing an additional 1,032 shares in the last quarter. Finally, National Bank of Canada FI grew its stake 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 valued at $36,000 after purchasing an additional 1,100 shares in the last quarter.

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.