USA Rare Earth (NASDAQ:USAR) Trading Down 4.5% – Should You Sell?
by Mitch Edgeman · The Markets DailyUSA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shares dropped 4.5% during trading on Tuesday . The company traded as low as $12.07 and last traded at $12.13. Approximately 6,795,409 shares changed hands during trading, an increase of 14% from the average daily volume of 5,946,131 shares. The stock had previously closed at $12.70.
Analysts Set New Price Targets
Several research firms recently issued reports on USAR. Roth Capital set a $40.00 price objective on USA Rare Earth in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday. UBS Group reissued a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Finally, William Blair initiated coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating for the company. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.33.
View Our Latest Stock Report on USAR
USA Rare Earth Stock Performance
The stock’s 50 day moving average price is $16.24 and its 200-day moving average price is $16.27. The company has a market cap of $1.61 billion, a PE ratio of -23.33 and a beta of 0.92.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.19).
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its position in USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after buying an additional 3,909,455 shares during the period. Altfest L J & Co. Inc. purchased a new position in shares of USA Rare Earth in the third quarter valued at about $13,554,000. Newtyn Management LLC bought a new position in shares of USA Rare Earth during the first quarter valued at about $4,114,000. Geode Capital Management LLC boosted its holdings in shares of USA Rare Earth by 2,437.5% during the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after purchasing an additional 627,545 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of USA Rare Earth during the third quarter worth about $8,304,000.
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.