USA Rare Earth (NASDAQ:USAR) Stock Falls 5% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) dropped 5% on Monday. The company traded as low as $14.37 and last traded at $14.42. Approximately 13,550,415 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 16,162,714 shares. The stock had previously closed at $15.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on USAR shares. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Price Performance

The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -5.79 and a beta of 2.58. The business has a fifty day moving average of $16.86 and a 200-day moving average of $19.57.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. As a group, research analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On USA Rare Earth

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of USA Rare Earth in the second quarter worth approximately $335,795,000. Inflection Point Holdings II LLC purchased a new position in USA Rare Earth during the 4th quarter worth approximately $37,188,000. Bank of America Corp DE acquired a new stake in USA Rare Earth during the 2nd quarter valued at $32,762,000. Weiss Asset Management LP acquired a new stake in USA Rare Earth in the first quarter valued at approximately $17,103,000. Finally, Korea Investment CORP bought a new stake in USA Rare Earth in the second quarter worth approximately $18,108,000.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-focused critical minerals company developing an integrated rare earth supply chain. Its activities center on the production of rare earth materials used in permanent magnets, electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s principal asset is the Round Top rare earth and critical minerals project in Hudspeth County, Texas. USA Rare Earth is advancing plans to mine and process ore from Round Top and produce separated rare earth oxides and other critical mineral products, including materials containing neodymium, praseodymium, dysprosium and terbium.