USA Rare Earth (NASDAQ:USAR) Trading Down 6.1% – Here’s What Happened
by Amy Steele · The Cerbat GemUSA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s stock price dropped 6.1% on Tuesday . The stock traded as low as $19.37 and last traded at $19.97. Approximately 13,298,221 shares traded hands during trading, a decline of 29% from the average daily volume of 18,649,980 shares. The stock had previously closed at $21.27.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on USAR. Wedbush upped their target price on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Northland Securities assumed coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Finally, Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $35.40.
View Our Latest Analysis on USA Rare Earth
USA Rare Earth Stock Performance
The stock has a 50-day moving average of $20.28 and a 200 day moving average of $18.45. The firm has a market capitalization of $5.29 billion, a P/E ratio of -6.20 and a beta of 2.38.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, equities analysts predict that USA Rare Earth Inc. will post -0.33 EPS for the current year.
Hedge Funds Weigh In On USA Rare Earth
Several large investors have recently made changes to their positions in USAR. Tudor Investment Corp ET AL bought a new position in shares of USA Rare Earth in the 3rd quarter valued at about $8,304,000. Jennison Associates LLC acquired a new stake in shares of USA Rare Earth during the fourth quarter worth $1,586,000. JPMorgan Chase & Co. bought a new stake in USA Rare Earth in the third quarter valued at about $734,000. Sovran Advisors LLC raised its position in shares of USA Rare Earth by 119.7% in the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock valued at $5,828,000 after acquiring an additional 266,783 shares during the period. Finally, Guild Investment Management Inc. bought a new position in USA Rare Earth during the 3rd quarter worth approximately $1,080,000.
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.