USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shares were down 3.6% during trading on Monday . The company traded as low as $18.81 and last traded at $19.29. Approximately 11,924,208 shares were traded during trading, a decline of 29% from the average session volume of 16,727,125 shares. The stock had previously closed at $20.00.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on USAR shares. Northland Securities began coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group increased their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC cut their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.
Check Out Our Latest Stock Analysis on USA Rare Earth
USA Rare Earth Price Performance
USA Rare Earth (NASDAQ:USAR – Get Free Report) last released its quarterly earnings results 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 firm had revenue of $5.82 million during the quarter. Equities research analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current year.
Insiders Place Their Bets
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 value of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.10% of the company’s stock.
Institutional Investors Weigh In On USA Rare Earth
A number of hedge funds and other institutional investors have recently modified their holdings of USAR. Larson Financial Group LLC lifted its stake in shares of USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after buying an additional 1,433 shares during the period. NewEdge Advisors LLC grew its stake in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the period. Ascentis Independent Advisors purchased a new stake in USA Rare Earth in the 1st quarter worth approximately $27,000. Center for Financial Planning Inc. acquired a new position in USA Rare Earth in the 4th quarter valued at $28,000. Finally, Havemeyer Place LP acquired a new position in USA Rare Earth in the 4th quarter valued at $33,000.
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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