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

USA Rare Earth (NASDAQ:USAR) had its price target cut by investment analysts at Canaccord Genuity Group from $33.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 103.79% from the stock’s previous close.

USAR has been the subject of a number of other reports. UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday. Benchmark initiated coverage on USA Rare Earth in a report on Wednesday, January 21st. They set a “buy” rating for the company. Roth Mkm lifted their price objective on shares of USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Cantor Fitzgerald upped their price objective on shares of USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Six 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, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $33.00.

USA Rare Earth Price Performance

USA Rare Earth stock opened at $14.23 on Tuesday. The company’s 50-day moving average is $20.04 and its 200-day moving average is $18.84. The firm has a market capitalization of $1.89 billion, a PE ratio of -27.37 and a beta of 1.06. USA Rare Earth has a fifty-two week low of $5.58 and a fifty-two week high of $43.98.

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

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco acquired 1,300 shares of the stock in a transaction on Thursday, January 29th. The shares were purchased at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the transaction, the director directly owned 1,300 shares of the company’s stock, valued at approximately $29,380. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Blitzer bought 100,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were purchased at an average cost of $21.44 per share, with a total value of $2,144,000.00. Following the acquisition, the director directly owned 847,500 shares of the company’s stock, valued at approximately $18,170,400. This represents a 13.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 46.60% of the stock is owned by company insiders.

Institutional Trading of USA Rare Earth

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of USA Rare Earth during the 4th quarter worth approximately $39,000. Virtu Financial LLC bought a new position in shares of USA Rare Earth during the fourth quarter worth approximately $832,000. Invesco Ltd. raised its position in shares of USA Rare Earth by 25.2% in the fourth quarter. Invesco Ltd. now owns 67,592 shares of the company’s stock valued at $804,000 after buying an additional 13,598 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of USA Rare Earth by 33.8% in the fourth quarter. XTX Topco Ltd now owns 53,349 shares of the company’s stock valued at $635,000 after buying an additional 13,466 shares during the period. Finally, SummitTX Capital L.P. bought a new stake in shares of USA Rare Earth in the fourth quarter valued at approximately $284,000.

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.