USA Rare Earth (NASDAQ:USAR) Stock Falls 1.3% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) traded down 1.3% on Friday. The stock traded as low as $15.03 and last traded at $15.18. 9,957,061 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 16,175,900 shares. The stock had previously closed at $15.38.

Wall Street Analyst Weigh In

USAR has been the topic of a number of research analyst reports. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group initiated coverage on USA Rare Earth in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target for the company. Roth Capital cut their price target on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC lowered their price objective 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. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Trading Down 1.3%

The firm has a market capitalization of $3.71 billion, a PE ratio of -6.25 and a beta of 2.58. The firm has a 50-day moving average of $16.92 and a two-hundred day moving average of $19.69.

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 business had revenue of $5.82 million during the quarter. Equities research analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of USA Rare Earth

Several hedge funds have recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in USA Rare Earth during the second quarter worth approximately $43,000. RFG Advisory LLC raised its holdings in USA Rare Earth by 459.1% during the 2nd quarter. RFG Advisory LLC now owns 59,835 shares of the company’s stock worth $1,291,000 after buying an additional 49,133 shares during the period. IFP Advisors Inc boosted its stake in USA Rare Earth by 477.4% in the 2nd quarter. IFP Advisors Inc now owns 67,896 shares of the company’s stock worth $1,465,000 after purchasing an additional 56,137 shares during the period. Arizona State Retirement System grew its holdings in shares of USA Rare Earth by 129.7% during the second quarter. Arizona State Retirement System now owns 48,117 shares of the company’s stock valued at $1,038,000 after buying an additional 27,166 shares in the last quarter. Finally, Nykredit A S acquired a new stake in USA Rare Earth during the 2nd quarter worth about $115,000.

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.