Canaccord Genuity Group Has Lowered Expectations for USA Rare Earth (NASDAQ:USAR) Stock Price

USA Rare Earth (NASDAQ:USAR) had its price objective lowered by Canaccord Genuity Group from $33.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 103.79% from the company’s current price.

A number of other research analysts have also weighed in on USAR. Benchmark assumed coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research report on Friday. Roth Mkm raised their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald boosted their price objective on shares of USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.00.

USA Rare Earth Price Performance

Shares of USA Rare Earth stock opened at $14.23 on Tuesday. The company has a market capitalization of $1.89 billion, a P/E ratio of -27.37 and a beta of 1.06. The business has a 50-day moving average of $20.04 and a two-hundred day moving average of $18.84. USA Rare Earth has a 1 year low of $5.58 and a 1 year high of $43.98.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $1.64 million during the quarter.

Insiders Place Their Bets

In other USA Rare Earth news, Director Carolyn Trabuco bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $22.60 per share, with a total value of $29,380.00. Following the completion of the transaction, the director owned 1,300 shares in the company, valued at approximately $29,380. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Blitzer purchased 100,000 shares of the stock in a transaction on Thursday, January 29th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $2,144,000.00. Following the completion of the purchase, the director directly owned 847,500 shares in the company, valued at approximately $18,170,400. The trade was a 13.38% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 46.60% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

A number of large investors have recently modified their holdings of USAR. Larson Financial Group LLC increased its position in shares of USA Rare Earth by 217.5% in the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after acquiring an additional 1,433 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of USA Rare Earth by 158.2% during 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. Center for Financial Planning Inc. bought a new stake in shares of USA Rare Earth during the 4th quarter worth approximately $28,000. Havemeyer Place LP acquired a new stake in shares of USA Rare Earth in the 4th quarter valued at approximately $33,000. Finally, National Bank of Canada FI boosted its holdings in shares of USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during 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.