USA Rare Earth (NASDAQ:USAR) Shares Down 1.2% on Insider Selling

Shares of USA Rare Earth Inc. (NASDAQ:USAR) traded down 1.2% on Monday following insider selling activity. The stock traded as low as $22.10 and last traded at $22.21. 16,458,051 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 18,621,170 shares. The stock had previously closed at $22.47.

Specifically, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded 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 increased their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Wedbush increased their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Stock Performance

The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -5.19 and a beta of 2.33. The business’s 50-day moving average is $22.44 and its 200-day moving average is $19.39.

USA Rare Earth (NASDAQ:USAR) last announced its 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 firm had revenue of $5.70 million for the quarter. Equities research analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

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

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.