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

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

Other equities research analysts also recently issued research reports about the stock. Roth Capital decreased their price target on shares of 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. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Needham & Company LLC dropped their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group assumed coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, USA Rare Earth currently has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Trading Down 5.9%

USAR opened at $9.63 on Tuesday. The stock has a market cap of $2.36 billion, a PE ratio of -3.96 and a beta of 2.66. USA Rare Earth has a 1 year low of $9.41 and a 1 year high of $32.80. The stock’s 50 day simple moving average is $15.33 and its 200-day simple moving average is $18.96.

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

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds have recently modified their holdings of the stock. Ascentis Independent Advisors bought a new position in shares of USA Rare Earth during the 1st quarter worth approximately $27,000. KBC Group NV acquired a new stake in USA Rare Earth in the 1st quarter valued at $35,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in USA Rare Earth in the first quarter valued at $38,000. State of Wyoming grew its position in USA Rare Earth by 100.4% in the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock valued at $38,000 after acquiring an additional 1,257 shares during the period. Finally, Allworth Financial LP bought a new stake in USA Rare Earth in the second quarter valued at $38,000.

About USA Rare Earth

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.