USA Rare Earth (NASDAQ:USAR) Trading Down 2.4% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) fell 2.4% during mid-day trading on Monday . The stock traded as low as $24.88 and last traded at $26.30. 18,937,679 shares traded hands during trading, an increase of 0% from the average session volume of 18,851,787 shares. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wedbush assumed coverage on USA Rare Earth in a research report on Monday, April 20th. They issued an “outperform” rating and a $29.00 price objective for the company. Cantor Fitzgerald raised their price objective on USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Canaccord Genuity Group lifted their price target on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Roth Mkm set a $30.00 price target on USA Rare Earth in a research report on Monday, April 20th. Finally, Benchmark initiated coverage on USA Rare Earth in a research report on Wednesday, January 21st. They set a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.20.

USA Rare Earth Trading Down 2.4%

The stock has a 50-day simple moving average of $19.33 and a 200 day simple moving average of $18.37. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -8.77 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The business had revenue of $1.64 million during the quarter. As a group, research analysts forecast that USA Rare Earth Inc. will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors have recently modified their holdings of USAR. NewEdge Advisors LLC raised its stake in shares of USA Rare Earth by 158.2% during the 2nd 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 last quarter. Raymond James Financial Inc. purchased a new position in shares of USA Rare Earth during the 2nd quarter valued at about $223,000. Lighthouse Investment Partners LLC purchased a new position in shares of USA Rare Earth during the 2nd quarter valued at about $329,000. Bank of America Corp DE raised its stake in shares of USA Rare Earth by 465.7% during the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock valued at $2,659,000 after buying an additional 199,819 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of USA Rare Earth during the 2nd quarter valued at about $145,000.

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.