USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.7% - Here's Why

Key Points

• USA Rare Earth shares fell 3.7% to $13.23, with 13.9 million shares traded. The stock remains below its 50-day and 200-day moving averages of $16.75 and $19.37, respectively.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating from 11 analysts and an average price target of $33.71, despite several firms recently cutting their targets.
• The company reported a quarterly loss of $0.15 per share, missing expectations of a $0.07 loss, on revenue of $5.82 million. Analysts forecast a full-year loss of $0.62 per share.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price was down 3.7% on Wednesday. The company traded as low as $13.03 and last traded at $13.23. 13,909,130 shares changed hands during trading, a decline of 13% from the average session volume of 16,018,814 shares. The stock had previously closed at $13.74.

Wall Street Analyst Weigh In

USAR has been the topic of a number of recent research reports. Weiss Ratings lowered USA Rare Earth from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Needham & Company LLC lowered 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. Cantor Fitzgerald restated an "overweight" rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Roth Capital reduced their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group started coverage on shares of USA Rare Earth in a report on Wednesday, September 2nd. They issued a "buy" rating and a $21.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.71.

USA Rare Earth Stock Performance

The stock's fifty day moving average price is $16.75 and its 200-day moving average price is $19.37. The firm has a market cap of $3.24 billion, a PE ratio of -5.44 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its 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 for the quarter. Sell-side analysts forecast that USA Rare Earth Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of USA Rare Earth

Large investors have recently bought and sold shares of the company. MCF Advisors LLC purchased a new stake in shares of USA Rare Earth in the 2nd quarter worth about $43,000. RFG Advisory LLC increased its holdings in USA Rare Earth by 459.1% during the 2nd quarter. RFG Advisory LLC now owns 59,835 shares of the company's stock valued at $1,291,000 after acquiring an additional 49,133 shares in the last quarter. IFP Advisors Inc raised its position in USA Rare Earth by 477.4% during the second quarter. IFP Advisors Inc now owns 67,896 shares of the company's stock worth $1,465,000 after acquiring an additional 56,137 shares during the last quarter. Arizona State Retirement System raised its position in USA Rare Earth by 129.7% during the second quarter. Arizona State Retirement System now owns 48,117 shares of the company's stock worth $1,038,000 after acquiring an additional 27,166 shares during the last quarter. Finally, Nykredit A S acquired a new position in USA Rare Earth during the second quarter worth about $115,000.

About USA Rare Earth

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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