USA Rare Earth (NASDAQ:USAR) Shares Down 1.9% – Here’s What Happened
by Doug Wharley · The Cerbat GemUSA Rare Earth Inc. (NASDAQ:USAR – Get Free Report)’s share price traded down 1.9% during trading on Wednesday . The stock traded as low as $16.89 and last traded at $17.19. 12,510,359 shares were traded during trading, a decline of 6% from the average session volume of 13,313,104 shares. The stock had previously closed at $17.52.
Analyst Upgrades and Downgrades
Several research firms have weighed in on USAR. Canaccord Genuity Group raised their price target on USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. UBS Group reissued a “buy” rating on shares of USA Rare Earth in a report on Monday, December 8th. Finally, Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research report on Friday, October 10th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.
Read Our Latest Stock Analysis on USA Rare Earth
USA Rare Earth Stock Performance
The company has a market cap of $2.28 billion, a P/E ratio of -33.06 and a beta of 0.96. The stock has a 50-day moving average of $15.10 and a two-hundred day moving average of $16.32.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).
Institutional Trading of USA Rare Earth
Hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC purchased a new stake in USA Rare Earth during the 3rd quarter valued at about $3,283,000. Pier 88 Investment Partners LLC purchased a new position in USA Rare Earth in the 2nd quarter worth approximately $588,000. Farther Finance Advisors LLC lifted its position in USA Rare Earth by 1,461,225.0% in the third quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock valued at $1,005,000 after purchasing an additional 58,449 shares during the last quarter. Altfest L J & Co. Inc. bought a new stake in USA Rare Earth in the third quarter valued at approximately $13,554,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of USA Rare Earth during the third quarter valued at approximately $693,000.
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.