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

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded down 2.1% during mid-day trading on Monday . The stock traded as low as $23.84 and last traded at $24.12. Approximately 16,028,844 shares were traded 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 Ratings Changes

USAR has been the topic of several research analyst reports. Needham & Company LLC started coverage on USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 target price on the stock. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Canaccord Genuity Group increased their price target 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. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Northland Securities assumed coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Trading Down 2.2%

The firm has a market capitalization of $5.38 billion, a PE ratio of -6.15 and a beta of 2.33. The company has a fifty day moving average price of $23.64 and a two-hundred day moving average price of $19.97.

USA Rare Earth (NASDAQ:USAR) last released 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 firm had revenue of $5.70 million for the quarter. As a group, equities research analysts predict that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in shares of USA Rare Earth during the 3rd quarter worth approximately $8,304,000. Jennison Associates LLC acquired a new stake in shares of USA Rare Earth in the 4th quarter worth approximately $1,586,000. JPMorgan Chase & Co. purchased a new position in USA Rare Earth in the 3rd quarter valued at approximately $734,000. Sovran Advisors LLC increased its stake in USA Rare Earth by 119.7% in the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock valued at $5,828,000 after purchasing an additional 266,783 shares in the last quarter. Finally, Kercheville Advisors LLC raised its holdings in USA Rare Earth by 272.0% during the fourth quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock worth $443,000 after purchasing an additional 27,200 shares during 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.