USA Rare Earth (NASDAQ:USAR) Stock Price Down 6% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 6% during trading on Monday . The company traded as low as $12.61 and last traded at $12.70. Approximately 6,612,621 shares were traded during trading, an increase of 11% from the average daily volume of 5,945,976 shares. The stock had previously closed at $13.51.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USAR. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research note on Friday, October 10th. Canaccord Genuity Group lifted their price objective on USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Monday, December 22nd. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, UBS Group reissued a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six equities research 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, USA Rare Earth has an average rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Price Performance

The company has a fifty day simple moving average of $16.62 and a two-hundred day simple moving average of $16.29. The company has a market capitalization of $1.68 billion, a P/E ratio of -24.42 and a beta of 0.92.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

Institutional investors and hedge funds have recently modified their holdings of the company. Pier 88 Investment Partners LLC acquired a new position in shares of USA Rare Earth during the 2nd quarter worth about $588,000. Farther Finance Advisors LLC increased its position in USA Rare Earth by 1,461,225.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after buying an additional 58,449 shares during the period. Newtyn Management LLC acquired a new position in shares of USA Rare Earth during the first quarter worth approximately $4,114,000. Titleist Asset Management LLC bought a new stake in shares of USA Rare Earth in the first quarter valued at approximately $145,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of USA Rare Earth in the third quarter worth $693,000.

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.