USA Rare Earth Inc. (NASDAQ:USAR) Stock Has Average Price Target of $33.71 According to Brokerages

USA Rare Earth Inc. (NASDAQ:USAR) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $33.71.

Several analysts have recently issued reports on USAR shares. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Needham & Company LLC cut their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group began coverage on USA Rare Earth in a report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 target price for the company. Weiss Ratings downgraded shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Roth Capital decreased their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 21st.

USA Rare Earth Trading Down 0.6%

NASDAQ:USAR opened at $12.56 on Monday. The stock’s 50 day simple moving average is $16.67 and its 200-day simple moving average is $19.27. USA Rare Earth has a 12-month low of $11.45 and a 12-month high of $43.98. The firm has a market cap of $3.07 billion, a P/E ratio of -5.17 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR) last posted 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 firm had revenue of $5.82 million during the quarter. Research analysts forecast that USA Rare Earth will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in USA Rare Earth by 55.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock worth $81,000 after purchasing an additional 2,042 shares during the last quarter. Overbrook Management Corp acquired a new stake in shares of USA Rare Earth in the 3rd quarter valued at about $3,145,000. Farther Finance Advisors LLC raised its holdings in shares of USA Rare Earth by 41.7% in the third quarter. Farther Finance Advisors LLC now owns 18,829 shares of the company’s stock valued at $265,000 after purchasing an additional 5,540 shares during the last quarter. MCF Advisors LLC bought a new position in shares of USA Rare Earth in the second quarter valued at $43,000. Finally, RFG Advisory LLC increased its holdings in shares of USA Rare Earth by 459.1% in the second quarter. RFG Advisory LLC now owns 59,835 shares of the company’s stock valued at $1,291,000 after purchasing an additional 49,133 shares during the last quarter.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.