USA Rare Earth (NASDAQ:USAR) Shares Down 1.9% - Here's What Happened

Key Points

• USA Rare Earth shares fell 1.9% to $15.10, with trading volume slightly below its average. The stock remains below its 50-day and 200-day moving averages.
• Analysts remain broadly optimistic, with 10 Buy ratings and one Sell rating and a consensus price target of $33.71, although several firms recently lowered their targets.
• The company reported a quarterly loss of $0.15 per share, missing estimates by $0.08, while generating $5.82 million in revenue. Analysts expect a full-year loss of $0.62 per share.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s stock price was down 1.9% on Wednesday . The stock traded as low as $14.88 and last traded at $15.10. 15,154,893 shares were traded during trading, a decline of 7% from the average daily volume of 16,276,476 shares. The stock had previously closed at $15.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Roth Capital dropped their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, July 21st. 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 research report on Wednesday, July 22nd. Benchmark restated a "buy" rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. 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, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.71.

USA Rare Earth Trading Down 1.9%

The firm has a 50 day moving average of $17.19 and a 200-day moving average of $19.85. The company has a market cap of $3.70 billion, a P/E ratio of -6.21 and a beta of 2.58.

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 for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. Equities analysts predict that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carlson Financial Inc. grew its position in shares of USA Rare Earth by 5.7% during the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company's stock valued at $254,000 after purchasing an additional 635 shares in the last quarter. Sterling Capital Management LLC boosted its stake in USA Rare Earth by 29.1% during the first quarter. Sterling Capital Management LLC now owns 3,676 shares of the company's stock valued at $56,000 after buying an additional 829 shares during the last quarter. First PREMIER Bank grew its holdings in USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company's stock valued at $43,000 after buying an additional 1,000 shares in the last quarter. State of Wyoming grew its holdings in USA Rare Earth by 100.4% during the 1st quarter. State of Wyoming now owns 2,509 shares of the company's stock valued at $38,000 after buying an additional 1,257 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company's stock worth $25,000 after acquiring an additional 1,433 shares during the last quarter.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-focused critical minerals company developing an integrated rare earth supply chain. Its activities center on the production of rare earth materials used in permanent magnets, electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company's principal asset is the Round Top rare earth and critical minerals project in Hudspeth County, Texas. USA Rare Earth is advancing plans to mine and process ore from Round Top and produce separated rare earth oxides and other critical mineral products, including materials containing neodymium, praseodymium, dysprosium and terbium.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.