USA Rare Earth (NASDAQ:USAR) Stock Price Down 1.9% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was down 1.9% during mid-day trading on Wednesday . The company traded as low as $16.89 and last traded at $17.19. Approximately 12,510,359 shares traded hands during trading, a decline of 6% from the average daily volume of 13,313,104 shares. The stock had previously closed at $17.52.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on USAR. UBS Group reiterated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. William Blair assumed coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating for the company. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research report on Friday, October 10th. Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Up 3.3%

The firm has a market cap of $2.29 billion, a P/E ratio of -33.23 and a beta of 0.96. The business has a fifty day simple moving average of $14.93 and a 200-day simple moving average of $16.36.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Thursday, November 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Hedge Funds Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC purchased a new stake in USA Rare Earth during the 3rd quarter valued at about $3,283,000. Pier 88 Investment Partners LLC purchased a new stake in shares of USA Rare Earth during the second quarter valued at approximately $588,000. Farther Finance Advisors LLC increased its position in shares of USA Rare Earth by 1,461,225.0% during the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock valued at $1,005,000 after acquiring an additional 58,449 shares in the last quarter. Altfest L J & Co. Inc. purchased a new position in USA Rare Earth in the 3rd quarter worth approximately $13,554,000. Finally, Darwin Wealth Management LLC bought a new position in USA Rare Earth in the 3rd quarter valued at approximately $693,000.

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.