USA Rare Earth (NASDAQ:USAR) Stock Bumped Up to Strong-Buy by Texas Capital

Texas Capital upgraded shares of USA Rare Earth (NASDAQ:USAR) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks reports.

Several other research firms have also recently weighed in on USAR. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group initiated coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Roth Capital dropped their price objective on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Needham & Company LLC cut 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 report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

USA Rare Earth Stock Performance

Shares of USAR opened at $9.63 on Tuesday. USA Rare Earth has a 52 week low of $9.41 and a 52 week high of $32.80. The firm has a market cap of $2.36 billion, a P/E ratio of -3.96 and a beta of 2.66. The firm’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 released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. As a group, equities analysts forecast that USA Rare Earth will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On USA Rare Earth

A number of large investors have recently bought and sold shares of USAR. BlackRock Inc. acquired a new stake in shares of USA Rare Earth during the 2nd quarter worth approximately $335,795,000. Bank of America Corp DE acquired a new position in USA Rare Earth during the second quarter valued at approximately $32,762,000. Weiss Asset Management LP acquired a new position in USA Rare Earth during the first quarter valued at approximately $17,103,000. Korea Investment CORP bought a new stake in USA Rare Earth during the second quarter worth $18,108,000. Finally, Bank of New York Mellon Corp bought a new stake in USA Rare Earth during the second quarter worth $13,510,000.

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.