USA Rare Earth (NASDAQ:USAR) Shares Down 4.5% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 4.5% on Thursday. The stock traded as low as $12.42 and last traded at $12.63. 19,622,747 shares traded hands during trading, an increase of 22% from the average daily volume of 16,045,366 shares. The stock had previously closed at $13.23.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on USAR. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Roth Capital decreased their price objective on 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. Needham & Company LLC lowered their target price on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Finally, Jefferies Financial Group initiated coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Ten 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 presently has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Stock Performance

The stock has a fifty day simple moving average of $16.76 and a 200-day simple moving average of $19.34. The stock has a market cap of $3.09 billion, a P/E ratio of -5.20 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. On average, research analysts anticipate that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Carlson Financial Inc. increased its position in shares of USA Rare Earth by 5.7% in the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock valued at $254,000 after acquiring an additional 635 shares during the last quarter. Sterling Capital Management LLC boosted its position in USA Rare Earth by 29.1% during the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock valued at $56,000 after purchasing an additional 829 shares during the last quarter. First PREMIER Bank grew its stake in USA Rare Earth by 100.0% in the second quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming grew its stake in USA Rare Earth by 100.4% in the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock valued at $38,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its position in shares of USA Rare Earth by 276.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after purchasing an additional 1,459 shares during the last quarter.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.