USA Rare Earth (NASDAQ:USAR) Stock Falls 3.1% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) dropped 3.1% during trading on Friday. The stock traded as low as $9.26 and last traded at $9.33. Approximately 9,510,647 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 15,881,117 shares. The stock had previously closed at $9.63.

Analysts Set New Price Targets

Several equities analysts recently weighed in on USAR shares. Needham & Company LLC decreased their target price on shares of 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. Texas Capital raised shares of USA Rare Earth to a “strong-buy” rating in a research report on Tuesday, October 20th. Roth Capital dropped their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen cut shares of USA Rare Earth from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Jefferies Financial Group assumed coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Price Performance

The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.84 and a beta of 2.66. The stock has a 50-day moving average price of $15.12 and a 200-day moving average price of $18.89.

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

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USAR. Corecam Pte. Ltd. increased its holdings in shares of USA Rare Earth by 33.0% in the third quarter. Corecam Pte. Ltd. now owns 19,606 shares of the company’s stock valued at $276,000 after purchasing an additional 4,869 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of USA Rare Earth during the 3rd quarter worth about $247,000. Sterling Capital Management LLC lifted its stake in shares of USA Rare Earth by 955.3% during the 3rd quarter. Sterling Capital Management LLC now owns 7,197 shares of the company’s stock worth $101,000 after buying an additional 6,515 shares during the last quarter. Credit Capital Investments LLC acquired a new stake in shares of USA Rare Earth during the 3rd quarter worth about $324,000. Finally, Brookstone Capital Management boosted its holdings in shares of USA Rare Earth by 48.0% during the 3rd quarter. Brookstone Capital Management now owns 16,259 shares of the company’s stock worth $229,000 after buying an additional 5,275 shares during the period.

About USA Rare Earth

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.