USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s share price fell 3.4% on Wednesday . The stock traded as low as $17.01 and last traded at $17.06. 10,541,708 shares traded hands during trading, a decline of 36% from the average session volume of 16,370,601 shares. The stock had previously closed at $17.66.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on USAR shares. Jefferies Financial Group assumed coverage on shares of USA Rare Earth in a report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price target for the company. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Wedbush lifted their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Ten 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.71.
Check Out Our Latest Analysis on USA Rare Earth
USA Rare Earth Stock Down 3.4%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million for the quarter. Equities analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.
Institutional Investors Weigh In On USA Rare Earth
A number of hedge funds have recently made changes to their positions in USAR. MCF Advisors LLC bought a new stake in USA Rare Earth during the 2nd quarter valued at $43,000. RFG Advisory LLC increased its holdings in shares of USA Rare Earth by 459.1% during the second quarter. RFG Advisory LLC now owns 59,835 shares of the company’s stock valued at $1,291,000 after purchasing an additional 49,133 shares during the period. IFP Advisors Inc raised its stake in shares of USA Rare Earth by 477.4% during the second quarter. IFP Advisors Inc now owns 67,896 shares of the company’s stock valued at $1,465,000 after purchasing an additional 56,137 shares in the last quarter. Arizona State Retirement System lifted its holdings in USA Rare Earth by 129.7% in the second quarter. Arizona State Retirement System now owns 48,117 shares of the company’s stock worth $1,038,000 after purchasing an additional 27,166 shares during the period. Finally, Nykredit A S acquired a new position in USA Rare Earth during the 2nd quarter valued at about $115,000.
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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