USA Rare Earth (NASDAQ:USAR) Shares Down 8.1% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) was down 8.1% during trading on Thursday . The stock traded as low as $15.70 and last traded at $15.91. Approximately 12,164,916 shares were traded during trading, a decline of 30% from the average session volume of 17,497,672 shares. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Northland Securities began coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group boosted their price target on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Trading Down 8.1%

The firm has a 50 day moving average price of $22.97 and a 200-day moving average price of $20.52. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -4.06 and a beta of 2.45.

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

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction 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. The trade was a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in shares of USA Rare Earth by 29.1% in the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after acquiring an additional 829 shares during the last quarter. Pier 88 Investment Partners LLC lifted its position in shares of USA Rare Earth by 2.5% in the fourth quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after acquiring an additional 840 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of USA Rare Earth by 20.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after acquiring an additional 936 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after acquiring an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI increased its position in USA Rare Earth by 110.0% during the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares in the last quarter.

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.