USA Rare Earth (NASDAQ:USAR) Stock Price Up 1.7% on Analyst Upgrade

USA Rare Earth Inc. (NASDAQ:USAR) shares traded up 1.7% on Wednesday after Texas Capital upgraded the stock to a strong-buy rating. The company traded as high as $10.35 and last traded at $10.23. 7,844,476 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 15,930,326 shares. The stock had previously closed at $10.06.

Several other equities research analysts have also issued reports on USAR. Needham & Company LLC reduced their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Roth Capital cut their price objective on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.71.

Institutional Inflows and Outflows

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

USA Rare Earth Price Performance

The company has a market cap of $2.31 billion, a price-to-earnings ratio of -3.89 and a beta of 2.66. The firm has a fifty day simple moving average of $15.33 and a 200 day simple moving average of $18.96.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data 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 firm had revenue of $5.82 million for the quarter. Analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

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.