USA Rare Earth (NASDAQ:USAR) Stock Price Down 2.3% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) fell 2.3% on Tuesday. The company traded as low as $13.96 and last traded at $14.08. 12,121,537 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 16,149,095 shares. The stock had previously closed at $14.41.

Analyst Ratings Changes

Several equities analysts have issued reports on USAR shares. Weiss Ratings lowered USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group initiated 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 objective for the company. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Needham & Company LLC cut their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Price Performance

The firm has a fifty day simple moving average of $16.82 and a 200-day simple moving average of $19.53. The firm has a market cap of $3.37 billion, a P/E ratio of -5.66 and a beta of 2.58.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. On average, equities analysts predict that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of USA Rare Earth

A number of hedge funds and other institutional investors have recently bought and sold shares of USAR. Carlson Financial Inc. raised its holdings in USA Rare Earth by 5.7% during the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock worth $254,000 after buying an additional 635 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of USA Rare Earth by 29.1% during the first 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 during the last quarter. First PREMIER Bank increased its position in shares of USA Rare Earth by 100.0% during the second quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after acquiring an additional 1,000 shares in the last quarter. State of Wyoming increased its position in shares of USA Rare Earth by 100.4% during the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock worth $38,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its holdings in shares of USA Rare Earth by 276.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after acquiring an additional 1,459 shares during the last quarter.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.