USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.7% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 3.7% on Wednesday . The company traded as low as $26.05 and last traded at $26.70. Approximately 14,545,025 shares were traded during trading, a decline of 22% from the average daily volume of 18,662,930 shares. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

USAR has been the topic of several recent research reports. Northland Securities initiated coverage on shares of USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Wedbush raised their price target 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. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Canaccord Genuity Group upped their price target on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Trading Down 0.7%

The company has a market capitalization of $6.25 billion, a PE ratio of -7.06 and a beta of 2.38. The firm has a 50 day simple moving average of $20.96 and a two-hundred day simple moving average of $18.80.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. Research analysts expect that USA Rare Earth Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares during the period. NewEdge Advisors LLC boosted its holdings in USA Rare Earth by 158.2% during the second 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. Ascentis Independent Advisors acquired a new stake in shares of USA Rare Earth during the 1st quarter valued at approximately $27,000. Center for Financial Planning Inc. acquired a new stake in shares of USA Rare Earth in the 4th quarter worth approximately $28,000. Finally, Havemeyer Place LP acquired a new position in USA Rare Earth during the fourth quarter worth $33,000.

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.