USA Rare Earth (NASDAQ:USAR) Announces Earnings Results

USA Rare Earth (NASDAQ:USAR) issued its quarterly earnings data on Monday. The company reported ($0.15) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $5.82 million for the quarter.

USA Rare Earth Price Performance

USAR traded down $0.29 during trading on Monday, hitting $19.04. The company had a trading volume of 15,756,939 shares, compared to its average volume of 16,844,225. USA Rare Earth has a 1-year low of $11.45 and a 1-year high of $43.98. The company has a market cap of $4.25 billion, a PE ratio of -4.86 and a beta of 2.55. The business has a 50-day moving average of $19.71 and a 200-day moving average of $20.53.

Insiders Place Their Bets

In other news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently modified their holdings of the stock. Weiss Asset Management LP acquired a new position in shares of USA Rare Earth in the 1st quarter valued at about $17,103,000. Jennison Associates LLC acquired a new stake in USA Rare Earth during the fourth quarter worth about $1,586,000. Encompass Capital Advisors LLC bought a new position in USA Rare Earth in the first quarter worth about $7,038,000. Swiss National Bank increased its holdings in shares of USA Rare Earth by 67.6% in the 1st quarter. Swiss National Bank now owns 150,500 shares of the company’s stock worth $2,278,000 after acquiring an additional 60,700 shares during the period. Finally, Kercheville Advisors LLC lifted its position in USA Rare Earth by 272.0% in the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock valued at $443,000 after purchasing an additional 27,200 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Canaccord Genuity Group boosted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Roth Capital decreased their price objective on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a research report on Thursday, June 4th. Finally, Wedbush boosted their price target on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.83.

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.