USA Rare Earth (NASDAQ:USAR) Stock Rating Raised to Strong-Buy at Texas Capital

USA Rare Earth (NASDAQ:USAR) was upgraded by analysts at Texas Capital to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

Other analysts also recently issued research reports about the company. Roth Capital cut their price objective on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Jefferies Financial Group started coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC dropped their target price 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Stock Down 5.9%

Shares of USA Rare Earth stock opened at $9.63 on Tuesday. USA Rare Earth has a 12-month low of $9.41 and a 12-month high of $32.80. The firm has a market capitalization of $2.36 billion, a PE ratio of -3.96 and a beta of 2.66. The stock’s fifty day moving average is $15.33 and its 200-day moving average is $18.96.

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

Institutional Investors Weigh In On USA Rare Earth

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in USA Rare Earth during the 2nd quarter valued at about $335,795,000. Bank of America Corp DE acquired a new position in shares of USA Rare Earth in the 2nd quarter valued at about $32,762,000. Weiss Asset Management LP purchased a new stake in shares of USA Rare Earth in the first quarter worth approximately $17,103,000. Korea Investment CORP purchased a new stake in shares of USA Rare Earth in the second quarter worth approximately $18,108,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of USA Rare Earth in the second quarter worth approximately $13,510,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.