USA Rare Earth (NASDAQ:USAR) Stock Price Down 8.6% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was down 8.6% during mid-day trading on Friday . The stock traded as low as $17.44 and last traded at $17.45. Approximately 13,994,064 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 21,715,510 shares. The stock had previously closed at $19.10.

Wall Street Analyst Weigh In

Several brokerages have recently commented on USAR. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Cantor Fitzgerald lifted their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. Benchmark initiated coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group lifted their target price on shares of USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

USA Rare Earth Stock Down 8.6%

The stock has a fifty day moving average price of $19.26 and a two-hundred day moving average price of $18.41. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -33.56 and a beta of 1.05.

Insider Activity

In other USA Rare Earth news, Director Carolyn Trabuco bought 1,300 shares of the stock in a transaction dated Thursday, January 29th. The shares were bought at an average cost of $22.60 per share, with a total value of $29,380.00. Following the completion of the acquisition, the director owned 1,300 shares of the company’s stock, valued at $29,380. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Blitzer purchased 100,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the completion of the transaction, the director owned 847,500 shares of the company’s stock, valued at $18,170,400. This represents a 13.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is owned by insiders.

Hedge Funds Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USAR. Calamos Advisors LLC bought a new position in shares of USA Rare Earth in the 3rd quarter valued at $3,283,000. Pier 88 Investment Partners LLC bought a new stake in shares of USA Rare Earth during the 2nd quarter worth $588,000. Farther Finance Advisors LLC boosted its stake in USA Rare Earth by 1,461,225.0% in the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock valued at $1,005,000 after buying an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. acquired a new stake in USA Rare Earth in the third quarter valued at about $13,554,000. Finally, Guild Investment Management Inc. bought a new position in USA Rare Earth in the third quarter valued at about $1,080,000.

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.