USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.8% – Here’s Why

Shares of USA Rare Earth Inc. (NASDAQ:USAR) dropped 3.8% on Thursday . The company traded as low as $15.79 and last traded at $16.00. Approximately 9,751,202 shares were traded during trading, a decline of 51% from the average daily volume of 19,737,563 shares. The stock had previously closed at $16.64.

Analyst Upgrades and Downgrades

USAR has been the subject of several recent research reports. Roth Mkm increased their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Cantor Fitzgerald upped their price target on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Canaccord Genuity Group increased their price target on USA Rare Earth from $23.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, UBS Group reissued a “buy” rating on shares of USA Rare Earth in a research report 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

USA Rare Earth Price Performance

The company’s 50-day simple moving average is $20.17 and its 200-day simple moving average is $18.78. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -30.77 and a beta of 1.05.

Insider Buying and Selling at USA Rare Earth

In other news, Director Michael Blitzer acquired 100,000 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were purchased at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the acquisition, the director directly owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Trabuco acquired 1,300 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was purchased at an average cost of $22.60 per share, with a total value of $29,380.00. Following the completion of the transaction, the director owned 1,300 shares in the company, valued at $29,380. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is currently owned by corporate insiders.

Institutional Trading of USA Rare Earth

Hedge funds and other institutional investors have recently modified their holdings of the business. Bayshore Capital Advisors LLC purchased a new position in USA Rare Earth in the fourth quarter valued at about $102,378,000. Vanguard Group Inc. increased its holdings in USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after purchasing an additional 5,083,288 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Inflection Point Holdings II LLC acquired a new position in shares of USA Rare Earth in the 4th quarter valued at approximately $37,188,000. Finally, State Street Corp boosted its stake in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after buying an additional 2,212,177 shares during 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.