USA Rare Earth (NASDAQ:USAR) Shares Down 7.4% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) dropped 7.4% during trading on Wednesday . The company traded as low as $19.95 and last traded at $19.98. Approximately 13,100,659 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 18,107,990 shares. The stock had previously closed at $21.58.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Needham & Company LLC began coverage on USA Rare Earth in a research report on Monday, June 1st. They issued a “buy” rating and a $39.00 price target for the company. Finally, Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, USA Rare Earth currently has an average rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Down 7.4%

The firm has a market capitalization of $4.46 billion, a PE ratio of -5.10 and a beta of 2.33. The business has a fifty day moving average price of $24.21 and a two-hundred day moving average price of $20.24.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. On average, equities analysts forecast that USA Rare Earth Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares during the period. Raymond James Financial Inc. purchased a new position in USA Rare Earth in the 2nd quarter valued at approximately $223,000. Lighthouse Investment Partners LLC acquired a new position in shares of USA Rare Earth in the second quarter worth $329,000. Bank of America Corp DE grew its stake in shares of USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after acquiring an additional 199,819 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of USA Rare Earth during the second quarter worth $145,000.

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.