USA Rare Earth (NASDAQ:USAR) Reaches New 52-Week Low – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price hit a new 52-week low during trading on Monday. The company traded as low as $9.00 and last traded at $9.0560, with a volume of 1,465,992 shares traded. The stock had previously closed at $9.33.

Wall Street Analyst Weigh In

USAR has been the subject of several research reports. Weiss Ratings lowered USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Needham & Company LLC cut their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. 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 report on Tuesday, July 21st. Finally, Jefferies Financial Group started coverage on USA Rare Earth in a report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, USA Rare Earth presently has a consensus rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Stock Performance

The company has a market cap of $2.25 billion, a PE ratio of -3.77 and a beta of 2.66. The stock has a 50 day moving average of $15.12 and a 200-day moving average of $18.92.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. Equities research analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Institutional Trading of USA Rare Earth

Several hedge funds have recently made changes to their positions in USAR. BlackRock Inc. purchased a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $335,795,000. Bank of America Corp DE purchased a new stake in USA Rare Earth during the 2nd quarter worth $32,762,000. Korea Investment CORP purchased a new position in USA Rare Earth in the second quarter valued at about $18,108,000. Weiss Asset Management LP bought a new stake in shares of USA Rare Earth in the 1st quarter worth about $17,103,000. Finally, Bank of New York Mellon Corp acquired a new position in USA Rare Earth in the second quarter worth about $13,510,000.

About USA Rare Earth

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.