USA Rare Earth (NASDAQ:USAR) Stock Price Down 6.9% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) traded down 6.9% during mid-day trading on Monday . The stock traded as low as $16.98 and last traded at $17.21. 9,133,193 shares were traded during mid-day trading, a decline of 48% from the average session volume of 17,660,209 shares. The stock had previously closed at $18.48.

Analysts Set New Price Targets

A number of brokerages have weighed in on USAR. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of USA Rare Earth in a report on Thursday, June 4th. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Wedbush raised their target price on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Needham & Company LLC began coverage on USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Trading Down 6.7%

The firm has a 50 day moving average price of $23.55 and a 200 day moving average price of $20.45. The stock has a market capitalization of $3.85 billion, a PE ratio of -4.40 and a beta of 2.45.

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

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in USA Rare Earth during the second quarter valued at approximately $223,000. Lighthouse Investment Partners LLC purchased a new stake in USA Rare Earth during the second quarter valued at approximately $329,000. Bank of America Corp DE lifted its stake in shares of USA Rare Earth by 465.7% in the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock valued at $2,659,000 after purchasing an additional 199,819 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of USA Rare Earth in the 2nd quarter worth approximately $145,000.

USA Rare Earth Company Profile

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.