USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s stock price dropped 5.9% during trading on Tuesday following insider selling activity. The stock traded as low as $19.89 and last traded at $20.90. Approximately 22,174,289 shares traded hands during trading, an increase of 19% from the average daily volume of 18,654,605 shares. The stock had previously closed at $22.21.
Specifically, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Analyst Upgrades and Downgrades
USAR has been the topic of several recent analyst reports. Needham & Company LLC initiated coverage on USA Rare Earth in a research note on Monday, June 1st. They set a “buy” rating and a $39.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Finally, Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.
USA Rare Earth Stock Down 5.9%
The company’s 50-day moving average is $22.33 and its two-hundred day moving average is $19.34. The company has a market cap of $4.66 billion, a P/E ratio of -5.33 and a beta of 2.33.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. On average, analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.
Institutional Investors Weigh In On USA Rare Earth
A number of hedge funds have recently modified their holdings of USAR. Janus Henderson Group PLC lifted its stake in USA Rare Earth by 32.2% in the first quarter. Janus Henderson Group PLC now owns 34,456 shares of the company’s stock valued at $521,000 after purchasing an additional 8,387 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of USA Rare Earth by 150.9% in the first quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock valued at $1,756,000 after buying an additional 69,787 shares during the period. Royal Bank of Canada raised its stake in shares of USA Rare Earth by 46.5% in the first quarter. Royal Bank of Canada now owns 98,399 shares of the company’s stock valued at $1,489,000 after buying an additional 31,245 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of USA Rare Earth during the 1st quarter valued at $7,038,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of USA Rare Earth by 106.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 97,802 shares of the company’s stock worth $1,480,000 after acquiring an additional 50,409 shares during the period.
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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