USA Rare Earth (NASDAQ:USAR) Shares Down 3.1% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 3.1% on Thursday . The company traded as low as $26.28 and last traded at $27.10. Approximately 13,191,923 shares were traded during trading, a decline of 29% from the average daily volume of 18,591,682 shares. The stock had previously closed at $27.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a report on Thursday. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group boosted their target price on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Price Performance

The firm’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $19.26. The stock has a market cap of $5.01 billion, a PE ratio of -5.73 and a beta of 2.33.

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

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently made changes to their positions in USAR. Bayshore Capital Advisors LLC bought a new stake in shares of USA Rare Earth during the 4th quarter valued at $102,378,000. Vanguard Group Inc. boosted its stake in USA Rare Earth by 533.3% in 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 period. Alyeska Investment Group L.P. grew 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 valued at $219,034,000 after buying an additional 3,909,455 shares in the last quarter. Inflection Point Holdings II LLC purchased a new position in USA Rare Earth during the 4th quarter valued at about $37,188,000. Finally, State Street Corp increased its position in shares of USA Rare Earth by 78.4% during the fourth 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 period.

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.