USA Rare Earth (NASDAQ:USAR) Price Target Raised to $22.00

USA Rare Earth (NASDAQ:USAR) had its target price upped by Canaccord Genuity Group from $21.00 to $22.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on USAR. Wall Street Zen lowered USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a report on Monday. Finally, Cantor Fitzgerald initiated coverage on USA Rare Earth in a research note on Friday, August 1st. They issued an “overweight” rating and a $16.00 price objective for the company. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.67.

USA Rare Earth Price Performance

NASDAQ USAR opened at $22.71 on Tuesday. The firm has a 50-day moving average price of $15.31. USA Rare Earth has a 1-year low of $5.56 and a 1-year high of $23.37.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05.

Insider Buying and Selling at USA Rare Earth

In other news, Director Michael Blitzer sold 2,091,849 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 46.60% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC grew its holdings in shares of 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. SBI Securities Co. Ltd. grew its stake in USA Rare Earth by 10,448.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after buying an additional 2,612 shares during the last quarter. Osaic Holdings Inc. acquired a new position in USA Rare Earth during the second quarter worth approximately $38,000. LMR Partners LLP purchased a new stake in USA Rare Earth in the second quarter valued at approximately $145,000. Finally, Titleist Asset Management LLC acquired a new stake in shares of USA Rare Earth in the first quarter valued at approximately $145,000.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.