USA Rare Earth (NASDAQ:USAR) Trading Down 1.9% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 1.9% during trading on Wednesday . The company traded as low as $11.72 and last traded at $11.90. Approximately 7,581,307 shares traded hands during trading, an increase of 27% from the average daily volume of 5,956,528 shares. The stock had previously closed at $12.13.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. William Blair began coverage on USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Finally, UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Price Performance

The stock has a 50-day moving average of $15.95 and a 200-day moving average of $16.26. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -22.88 and a beta of 0.91.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pier 88 Investment Partners LLC bought a new position in shares of USA Rare Earth in the 2nd quarter valued at $588,000. Farther Finance Advisors LLC raised its stake in USA Rare Earth by 1,461,225.0% during the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after acquiring an additional 58,449 shares in the last quarter. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth in the 1st quarter valued at approximately $4,114,000. Darwin Wealth Management LLC bought a new position in USA Rare Earth in the 3rd quarter valued at approximately $693,000. Finally, Geode Capital Management LLC lifted its stake in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after purchasing an additional 627,545 shares during 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.