USA Rare Earth (NASDAQ:USAR) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• USA Rare Earth reported quarterly earnings of ($0.08) EPS, exceeding expectations by $0.05, as analysts had forecasted a loss of ($0.13).
• The company's stock price fell to $15.44 after hitting a trading volume significantly higher than its average, with a 52-week range between $5.56 and $20.00.
• Analysts have shown a positive shift, upgrading their ratings on USA Rare Earth, with at least two firms assigning a "buy" rating and price targets of $16.00 and $17.00.

USA Rare Earth (NASDAQ:USAR - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05, Zacks reports.

USA Rare Earth Price Performance

Shares of NASDAQ USAR traded down $1.12 during mid-day trading on Friday, reaching $16.66. 1,599,897 shares of the company's stock were exchanged, compared to its average volume of 2,274,646. The firm's fifty day moving average is $12.88. USA Rare Earth has a twelve month low of $5.56 and a twelve month high of $20.00.

Wall Street Analyst Weigh In

USAR has been the topic of a number of recent research reports. Wall Street Zen upgraded USA Rare Earth from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a research note on Friday, June 13th. Cantor Fitzgerald began coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 target price for the company. Finally, Canaccord Genuity Group started coverage on USA Rare Earth in a report on Friday, June 13th. They set a "buy" rating and a $17.00 price target for the company.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock worth $25,000 after purchasing an additional 1,424 shares in the last quarter. Raymond James Financial Inc. bought a new stake in USA Rare Earth during the second quarter worth $223,000. Lighthouse Investment Partners LLC purchased a new position in USA Rare Earth in the second quarter worth $329,000. Finally, Bank of America Corp DE lifted its position in shares of USA Rare Earth by 465.7% during the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock valued at $2,659,000 after buying an additional 199,819 shares during the last quarter.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.