USA Rare Earth (NASDAQ:USAR) Trading Down 2.1% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) traded down 2.1% during trading on Monday . The stock traded as low as $23.84 and last traded at $24.12. Approximately 16,028,844 shares traded hands during trading, a decline of 13% from the average daily volume of 18,457,934 shares. The stock had previously closed at $24.64.

Analyst Upgrades and Downgrades

USAR has been the topic of a number of recent research reports. Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Wedbush boosted their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Trading Down 6.8%

The stock’s 50-day simple moving average is $23.92 and its 200-day simple moving average is $20.10. The firm has a market capitalization of $4.76 billion, a P/E ratio of -5.44 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm had revenue of $5.70 million for the quarter. On average, equities research analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction 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 transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds have recently made changes to their positions in USAR. Larson Financial Group LLC grew its position in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares during the period. NewEdge Advisors LLC raised its position in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the period. Ascentis Independent Advisors bought a new stake in USA Rare Earth in the first quarter worth about $27,000. Center for Financial Planning Inc. purchased a new position in USA Rare Earth in the fourth quarter valued at about $28,000. Finally, Havemeyer Place LP purchased a new position in USA Rare Earth in the fourth quarter valued at about $33,000.

About USA Rare Earth

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.