Wedbush Raises USA Rare Earth (NASDAQ:USAR) Price Target to $35.00

USA Rare Earth (NASDAQ:USAR) had its target price lifted by research analysts at Wedbush from $29.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 33.08% from the company’s previous close.

A number of other research analysts have also weighed in on USAR. Benchmark initiated coverage on USA Rare Earth in a report 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 note on Friday, March 27th. Northland Securities assumed coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Canaccord Genuity Group upped their price objective on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Roth Mkm set a $30.00 target price on USA Rare Earth in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.40.

USA Rare Earth Stock Performance

Shares of USAR stock opened at $26.30 on Tuesday. USA Rare Earth has a fifty-two week low of $8.00 and a fifty-two week high of $43.98. The firm has a market capitalization of $5.73 billion, a PE ratio of -8.77 and a beta of 2.38. The stock’s 50-day simple moving average is $19.59 and its 200-day simple moving average is $18.34.

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 analysts’ consensus estimates of ($0.12) by ($0.07). The firm had revenue of $1.64 million for the quarter. Sell-side analysts forecast that USA Rare Earth will post -0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in USAR. Larson Financial Group LLC lifted its holdings in shares of USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after acquiring an additional 1,433 shares during the period. NewEdge Advisors LLC increased its position in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares during the last quarter. Ascentis Independent Advisors purchased a new position in USA Rare Earth during the first quarter worth approximately $27,000. Center for Financial Planning Inc. purchased a new position in USA Rare Earth during the fourth quarter worth approximately $28,000. Finally, Havemeyer Place LP acquired a new position in shares of USA Rare Earth in the 4th quarter valued at $33,000.

USA Rare Earth Company Profile

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.