USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shares fell 2.3% on Wednesday . The company traded as low as $17.91 and last traded at $18.09. Approximately 9,193,926 shares were traded during mid-day trading, a decline of 45% from the average session volume of 16,630,283 shares. The stock had previously closed at $18.51.
Analyst Upgrades and Downgrades
USAR has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wedbush raised their price objective 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. Finally, Roth Capital decreased their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and an average price target of $35.83.
View Our Latest Stock Analysis on USA Rare Earth
USA Rare Earth Stock Down 2.3%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last issued its quarterly earnings data 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 EPS for the current fiscal year.
Insider Transactions at USA Rare Earth
In related news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated 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 approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.
Institutional Investors Weigh In On USA Rare Earth
A number of institutional investors have recently modified their holdings of the stock. Brasada Capital Management LP bought a new position in shares of USA Rare Earth during the 2nd quarter valued at approximately $279,000. Formula Growth Ltd. purchased a new stake in USA Rare Earth during the 2nd quarter worth approximately $540,000. Bank of America Corp DE acquired a new stake in shares of USA Rare Earth in the second quarter worth $32,762,000. Man Group plc acquired a new position in USA Rare Earth in the 2nd quarter worth about $2,562,000. Finally, Jupiter Topco LLC acquired a new position in USA Rare Earth in the 2nd quarter valued at $3,498,000.
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.
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