USA Rare Earth (NASDAQ:USAR) Stock Price Down 1.2% After Insider Selling

USA Rare Earth Inc. (NASDAQ:USAR)’s share price dropped 1.2% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $22.10 and last traded at $22.21. Approximately 16,458,051 shares changed hands during trading, a decline of 12% from the average daily volume of 18,621,170 shares. The stock had previously closed at $22.47.

Specifically, 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 sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

USAR has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Northland Securities initiated coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Finally, Needham & Company LLC initiated coverage on shares of USA Rare Earth in a research note on Monday, June 1st. They issued a “buy” rating and a $39.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Stock Down 2.7%

The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -5.19 and a beta of 2.33. The firm’s 50 day moving average is $22.44 and its two-hundred day moving average is $19.39.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. On average, analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. raised its stake in USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC acquired a new stake in USA Rare Earth during the fourth quarter worth about $102,378,000. Vanguard Group Inc. raised its stake in USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after acquiring an additional 5,083,288 shares during the period. State Street Corp raised its stake in USA Rare Earth by 78.4% during the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after acquiring an additional 2,212,177 shares during the period. Finally, Inflection Point Holdings II LLC acquired a new stake in USA Rare Earth during the fourth quarter worth about $37,188,000.

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.