USA Rare Earth (NASDAQ:USAR) Stock Price Down 6.5% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded down 6.5% during mid-day trading on Friday . The company traded as low as $14.14 and last traded at $14.15. 8,947,936 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 17,178,705 shares. The stock had previously closed at $15.14.

Wall Street Analysts Forecast Growth

USAR has been the topic of several research reports. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Wedbush raised their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Northland Securities started coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective for the company. Roth Capital lowered their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.83.

USA Rare Earth Stock Performance

The company has a market cap of $3.16 billion, a PE ratio of -3.61 and a beta of 2.45. The business’s 50-day moving average is $21.73 and its 200 day moving average is $20.64.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. Equities research analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. boosted its stake in shares of USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after purchasing an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC bought a new stake in USA Rare Earth during the 4th quarter valued at $102,378,000. Vanguard Group Inc. boosted its position in USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares during the period. State Street Corp grew its holdings in USA Rare Earth by 78.4% in the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after acquiring an additional 2,212,177 shares during the last quarter. Finally, Inflection Point Holdings II LLC bought a new stake in USA Rare Earth in the 4th quarter worth $37,188,000.

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.