USA Rare Earth (NASDAQ:USAR) Stock Price Down 6.1% – Here’s Why

Shares of USA Rare Earth Inc. (NASDAQ:USAR) fell 6.1% during mid-day trading on Tuesday . The stock traded as low as $19.37 and last traded at $19.97. 13,298,221 shares changed hands during trading, a decline of 29% from the average session volume of 18,649,980 shares. The stock had previously closed at $21.27.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USAR. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Cantor Fitzgerald lifted their price objective on shares of USA Rare Earth from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Benchmark began coverage on shares of USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating on the stock. Canaccord Genuity Group lifted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Wedbush lifted their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

USA Rare Earth Stock Down 6.1%

The business has a 50-day moving average price of $20.08 and a 200-day moving average price of $18.39. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -5.09 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. On average, equities research analysts forecast that USA Rare Earth Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently made changes to their positions in USAR. Janus Henderson Group PLC grew its holdings in shares of USA Rare Earth by 32.2% during the first quarter. Janus Henderson Group PLC now owns 34,456 shares of the company’s stock valued at $521,000 after buying an additional 8,387 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of USA Rare Earth by 150.9% during the first quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock valued at $1,756,000 after buying an additional 69,787 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of USA Rare Earth by 46.5% during the first quarter. Royal Bank of Canada now owns 98,399 shares of the company’s stock valued at $1,489,000 after buying an additional 31,245 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of USA Rare Earth during the first quarter valued at $7,038,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of USA Rare Earth by 106.4% during the first quarter. The Manufacturers Life Insurance Company now owns 97,802 shares of the company’s stock valued at $1,480,000 after buying an additional 50,409 shares during the last quarter.

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.