USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s share price fell 1.2% on Monday . The company traded as low as $22.10 and last traded at $22.21. 16,458,051 shares were traded during mid-day trading, a decline of 12% from the average session volume of 18,621,170 shares. The stock had previously closed at $22.47.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on USAR. 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. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Wedbush boosted their target price on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Roth Mkm reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Thursday. Finally, Weiss Ratings raised shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, USA Rare Earth has a consensus rating of “Moderate Buy” and an average price target of $36.83.
Check Out Our Latest Report on USA Rare Earth
USA Rare Earth Stock Down 1.2%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. As a group, analysts expect that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.
Hedge Funds Weigh In On USA Rare Earth
A number of hedge funds have recently made changes to their positions in the business. Alyeska Investment Group L.P. raised its stake in shares of USA Rare Earth by 44.0% in 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 in the last quarter. Bayshore Capital Advisors LLC acquired a new position in shares of USA Rare Earth in the 4th quarter valued at $102,378,000. Vanguard Group Inc. raised its stake in shares of USA Rare Earth by 533.3% in the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares in the last quarter. State Street Corp raised its stake in shares of USA Rare Earth by 78.4% in the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock valued at $59,891,000 after buying an additional 2,212,177 shares in the last quarter. Finally, Inflection Point Holdings II LLC acquired a new position in shares of USA Rare Earth in the 4th quarter valued at $37,188,000.
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.
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