USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s stock price traded down 2.7% during trading on Monday . The stock traded as low as $14.82 and last traded at $15.23. 14,895,674 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 17,422,773 shares. The stock had previously closed at $15.65.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on USAR. Northland Securities started coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Needham & Company LLC dropped their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush boosted their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, USA Rare Earth presently has an average rating of “Moderate Buy” and a consensus price target of $35.83.
Get Our Latest Stock Report on USA Rare Earth
USA Rare Earth Price Performance
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.70 million during the quarter. On average, research analysts predict that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.
Insider Buying and Selling
In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is owned by insiders.
Institutional Investors Weigh In On USA Rare Earth
Institutional investors have recently made changes to their positions in the business. Bayshore Capital Advisors LLC bought a new stake in USA Rare Earth in the fourth quarter worth $102,378,000. Vanguard Group Inc. lifted 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 acquiring an additional 5,083,288 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings 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 acquiring an additional 3,909,455 shares during the period. Inflection Point Holdings II LLC purchased a new stake in USA Rare Earth during the 4th quarter valued at about $37,188,000. Finally, State Street Corp grew its position in USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after acquiring an additional 2,212,177 shares during the last quarter.
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.
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