USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s share price fell 4.5% during trading on Thursday. The company traded as low as $12.42 and last traded at $12.63. Approximately 19,622,747 shares changed hands during trading, an increase of 22% from the average session volume of 16,045,366 shares. The stock had previously closed at $13.23.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on USAR. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group started coverage on USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Roth Capital cut their price target on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Finally, Needham & Company LLC decreased their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and a consensus target price of $33.71.
View Our Latest Analysis on USA Rare Earth
USA Rare Earth Stock Down 0.6%
USA Rare Earth (NASDAQ:USAR – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. On average, analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.
Hedge Funds Weigh In On USA Rare Earth
A number of hedge funds and other institutional investors have recently modified their holdings of USAR. Carlson Financial Inc. grew its stake in USA Rare Earth by 5.7% during the 2nd quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock valued at $254,000 after acquiring an additional 635 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of USA Rare Earth by 29.1% in the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares in the last quarter. First PREMIER Bank lifted its position in shares of USA Rare Earth by 100.0% in the second quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming boosted its holdings in shares of USA Rare Earth by 100.4% during the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock worth $38,000 after purchasing an additional 1,257 shares during the period. Finally, Ameritas Advisory Services LLC boosted its holdings in shares of USA Rare Earth by 276.3% during the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after purchasing an additional 1,459 shares during the period.
USA Rare Earth Company Profile
USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.
The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.
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