USA Rare Earth (NASDAQ:USAR) Shares Down 2.5% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 2.5% on Friday . The company traded as low as $21.29 and last traded at $21.99. Approximately 14,272,310 shares traded hands during trading, a decline of 23% from the average daily volume of 18,530,422 shares. The stock had previously closed at $22.56.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wedbush boosted their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Benchmark restated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Northland Securities began coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Finally, Canaccord Genuity Group lifted their price objective 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. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Price Performance

The stock has a market cap of $4.90 billion, a PE ratio of -5.61 and a beta of 2.33. The stock’s fifty day moving average is $22.71 and its 200-day moving average is $19.52.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, sell-side analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the company’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 transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Several large investors have recently bought and sold shares of USAR. Larson Financial Group LLC increased its stake in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares in the last quarter. NewEdge Advisors LLC lifted 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 buying an additional 1,424 shares during the period. Ascentis Independent Advisors acquired a new position in USA Rare Earth in the first quarter valued at about $27,000. Center for Financial Planning Inc. acquired a new position in USA Rare Earth in the fourth quarter valued at about $28,000. Finally, Havemeyer Place LP acquired a new position in USA Rare Earth in the fourth quarter valued at about $33,000.

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.