USA Rare Earth (NASDAQ:USAR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of USA Rare Earth (NASDAQ:USAR) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a 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. Roth Capital reduced their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Needham & Company LLC decreased their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group began 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 for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

USA Rare Earth Stock Down 4.5%

Shares of NASDAQ:USAR opened at $8.91 on Friday. USA Rare Earth has a 52-week low of $8.89 and a 52-week high of $32.80. The stock has a market cap of $2.18 billion, a P/E ratio of -3.67 and a beta of 2.66. The business has a fifty day moving average of $14.94 and a two-hundred day moving average of $18.95.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. On average, equities analysts anticipate that USA Rare Earth will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On USA Rare Earth

Several large investors have recently modified their holdings of the business. Corecam Pte. Ltd. increased its position in shares of USA Rare Earth by 33.0% during the 3rd quarter. Corecam Pte. Ltd. now owns 19,606 shares of the company’s stock worth $276,000 after purchasing an additional 4,869 shares during the last quarter. Wedbush Securities Inc. acquired a new position in USA Rare Earth in the third quarter valued at about $247,000. Sterling Capital Management LLC lifted its position in USA Rare Earth by 955.3% in the third quarter. Sterling Capital Management LLC now owns 7,197 shares of the company’s stock valued at $101,000 after buying an additional 6,515 shares during the last quarter. Credit Capital Investments LLC acquired a new position in USA Rare Earth in the third quarter valued at about $324,000. Finally, Brookstone Capital Management boosted its stake in USA Rare Earth by 48.0% during the third quarter. Brookstone Capital Management now owns 16,259 shares of the company’s stock worth $229,000 after buying an additional 5,275 shares during the period.

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.