USA Rare Earth (NASDAQ:USAR) Shares Down 4% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares were down 4% during trading on Tuesday . The stock traded as low as $18.22 and last traded at $18.51. Approximately 8,749,636 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 16,672,332 shares. The stock had previously closed at $19.29.

Wall Street Analyst Weigh In

USAR has been the topic of a number of recent research reports. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Roth Capital dropped their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Northland Securities assumed coverage on USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.83.

USA Rare Earth Trading Down 5.0%

The stock has a market capitalization of $3.83 billion, a PE ratio of -7.09 and a beta of 2.55. The business’s 50 day moving average is $18.71 and its 200 day moving average is $20.28.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. As a group, analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds have recently bought and sold shares of USAR. BlackRock Inc. bought a new stake in shares of USA Rare Earth during the second quarter worth $335,795,000. Alyeska Investment Group L.P. increased its stake in USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after buying an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC purchased a new position in USA Rare Earth in the 4th quarter worth about $102,378,000. Vanguard Group Inc. lifted 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 valued at $71,834,000 after buying an additional 5,083,288 shares in the last quarter. Finally, State Street Corp lifted its holdings in 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 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.