Ucore Rare Metals (OTCMKTS:UURAF) Stock Price Down 13.7% – Here’s Why

Ucore Rare Metals Inc. (OTCMKTS:UURAF)’s share price fell 13.7% on Thursday. The company traded as low as $1.26 and last traded at $1.2950. Approximately 703,255 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 417,051 shares. The stock had previously closed at $1.50.

Analyst Ratings Changes

UURAF has been the topic of several recent research reports. B. Riley Financial reduced their price objective on Ucore Rare Metals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. Jefferies Financial Group started coverage on shares of Ucore Rare Metals in a research note on Wednesday, September 2nd. They set a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Ucore Rare Metals Price Performance

The company has a fifty day simple moving average of $1.71 and a 200-day simple moving average of $3.42. The company has a market cap of $197.49 million and a P/E ratio of -25.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.68 and a quick ratio of 1.68.

Ucore Rare Metals (OTCMKTS:UURAF) last released its quarterly earnings results on Monday, August 31st. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). On average, sell-side analysts predict that Ucore Rare Metals Inc. will post -0.12 earnings per share for the current year.

Ucore Rare Metals Company Profile

Ucore Rare Metals Inc is a Canadian critical-minerals company focused on the development of rare earth element resources and separation technologies. The company’s work is intended to support North American supply chains for rare earths used in electric vehicles, renewable energy systems, defense applications, electronics and other advanced technologies.

Ucore’s principal mineral project is the Bokan-Dotson Ridge project in southeast Alaska, which contains heavy rare earth elements. The company is also developing its RapidSX technology, a solvent-extraction-based process designed to separate and refine mixed rare earth elements.