USA Rare Earth (NASDAQ:USAR) Releases Earnings Results, Misses Estimates By $0.19 EPS

USA Rare Earth (NASDAQ:USAR) issued its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19), Zacks reports.

USA Rare Earth Trading Down 6.2%

NASDAQ USAR opened at $15.82 on Friday. The stock has a market cap of $1.80 billion, a PE ratio of -58.59 and a beta of 0.77. USA Rare Earth has a 12 month low of $5.56 and a 12 month high of $43.98. The company’s 50-day moving average price is $20.58 and its 200-day moving average price is $15.07.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on USAR shares. Cantor Fitzgerald initiated coverage on USA Rare Earth in a research note on Friday, August 1st. They issued an “overweight” rating and a $16.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Wednesday, October 8th. William Blair assumed coverage on USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating for the company. Wall Street Zen cut USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group upped their price target on shares of USA Rare Earth from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Four equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 46.60% of the stock is currently owned by company insiders.

Institutional Trading of USA Rare Earth

Several institutional investors and hedge funds have recently modified their holdings of USAR. NewEdge Advisors LLC boosted its holdings in shares of USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 shares during the period. Osaic Holdings Inc. purchased a new position in USA Rare Earth during the 2nd quarter worth $38,000. LMR Partners LLP bought a new stake in USA Rare Earth during the 2nd quarter valued at $145,000. Raymond James Financial Inc. purchased a new stake in shares of USA Rare Earth in the 2nd quarter worth $223,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of USA Rare Earth in the 2nd quarter worth $329,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.