USA Rare Earth (NASDAQ:USAR) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of USA Rare Earth (NASDAQ:USAR) in a report released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $21.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Wedbush upped their price objective on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Needham & Company LLC decreased their price objective on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Finally, Roth Capital lowered their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

USA Rare Earth Price Performance

Shares of USA Rare Earth stock opened at $17.85 on Wednesday. The firm’s fifty day simple moving average is $17.76 and its 200-day simple moving average is $20.00. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -7.35 and a beta of 2.58. USA Rare Earth has a 12 month low of $11.45 and a 12 month high of $43.98.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. Analysts anticipate that USA Rare Earth will post -0.62 earnings per share for the current year.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $335,795,000. Alyeska Investment Group L.P. grew its holdings in USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares during the period. Bayshore Capital Advisors LLC purchased a new position in USA Rare Earth in the fourth quarter worth $102,378,000. Vanguard Group Inc. lifted its holdings in USA Rare Earth by 533.3% in the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after acquiring an additional 5,083,288 shares during the period. Finally, State Street Corp boosted its position in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after purchasing an additional 2,212,177 shares in the last quarter.

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.