USA Rare Earth Inc. (USAR) shares fell to a new 52-week low of $11.44 on Tuesday. The stock is approximately 74% below its 52-week high of $43.98. It is down 68.52% year over year and fell about 30% over the past month.
Recent analyst calls have been positive. Jefferies initiated coverage with a Buy rating, while StoneX reiterated its Buy rating.
Capital expenditures totaled $66 million in the second quarter. Revenue was $6 million, raising concerns about the company’s spending.
The company’s main project, Round Top, is not expected to be commercially operational until late 2028. USA Rare Earth has not yet collected its milestone-based government funding.