USA Rare Earth (NASDAQ:USAR) Shares Down 3.2% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) fell 3.2% on Wednesday . The company traded as low as $21.46 and last traded at $22.03. 12,592,504 shares were traded during mid-day trading, a decline of 32% from the average session volume of 18,614,301 shares. The stock had previously closed at $22.77.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USAR. Wedbush initiated coverage on USA Rare Earth in a research report on Monday, April 20th. They set an “outperform” rating and a $29.00 target price on the stock. Northland Securities began coverage on USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price objective 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 stock a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Friday, March 27th. Finally, Benchmark assumed coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.20.

USA Rare Earth Price Performance

The business has a 50 day simple moving average of $18.81 and a 200-day simple moving average of $18.70.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $1.64 million for the quarter. On average, equities research analysts expect that USA Rare Earth Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds have recently modified their holdings of USAR. Sterling Capital Management LLC lifted its holdings in USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares in the last quarter. Pier 88 Investment Partners LLC grew its holdings in USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after buying an additional 840 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock valued at $66,000 after buying an additional 936 shares in the last quarter. Advisory Services Network LLC increased its position in shares of USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after buying an additional 1,032 shares during the period. Finally, National Bank of Canada FI increased its position in shares of USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the period.

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.