USA Rare Earth (NASDAQ:USAR) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

USA Rare Earth (NASDAQ:USAR) released its earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19), Zacks reports.

USA Rare Earth Stock Performance

Shares of USAR stock traded down $1.05 during mid-day trading on Thursday, reaching $15.82. 14,278,622 shares of the company’s stock traded hands, compared to its average volume of 5,330,032. USA Rare Earth has a 12 month low of $5.56 and a 12 month high of $43.98. The firm has a 50 day moving average price of $20.57 and a two-hundred day moving average price of $15.06. The firm has a market capitalization of $1.80 billion, a PE ratio of -58.59 and a beta of 0.77.

Insider Activity

In other news, Director Michael Blitzer sold 2,091,849 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total transaction of $32,946,621.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds have recently modified their holdings of USAR. NewEdge Advisors LLC grew its position in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the period. Osaic Holdings Inc. bought a new position in USA Rare Earth in the 2nd quarter worth $38,000. LMR Partners LLP bought a new position in USA Rare Earth in the 2nd quarter worth $145,000. Raymond James Financial Inc. bought a new position in USA Rare Earth in the 2nd quarter worth $223,000. Finally, Lighthouse Investment Partners LLC bought a new position in USA Rare Earth in the 2nd quarter worth $329,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on USAR. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Wednesday, October 8th. William Blair began coverage on shares of USA Rare Earth in a report on Monday, October 20th. They issued an “outperform” rating for the company. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Cantor Fitzgerald began coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an “overweight” rating and a $16.00 price objective for the company. Finally, Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research report on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.