Canaccord Genuity Group Cuts USA Rare Earth (NASDAQ:USAR) Price Target to $29.00
by Kim Johansen · The Markets DailyUSA Rare Earth (NASDAQ:USAR – Free Report) had its price target trimmed by Canaccord Genuity Group from $33.00 to $29.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.
Other equities research analysts have also recently issued reports about the company. Roth Mkm lifted their price objective on USA Rare Earth from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald increased their target price on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Benchmark began coverage on USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating on the stock. UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.
Check Out Our Latest Research Report on USAR
USA Rare Earth Stock Up 7.6%
USAR opened at $15.92 on Tuesday. The firm’s fifty day simple moving average is $19.73 and its two-hundred day simple moving average is $18.80. USA Rare Earth has a 52-week low of $6.31 and a 52-week high of $43.98. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -5.31 and a beta of 1.34.
USA Rare Earth (NASDAQ:USAR – Get Free Report) last released its earnings results on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The firm had revenue of $1.64 million for the quarter.
Insider Activity
In other USA Rare Earth news, Director Carolyn Trabuco acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was bought at an average price of $22.60 per share, with a total value of $29,380.00. Following the purchase, the director owned 1,300 shares in the company, valued at approximately $29,380. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Blitzer acquired 100,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the acquisition, the director owned 847,500 shares in the company, valued at $18,170,400. The trade was a 13.38% increase in their position. The SEC filing for this purchase provides additional information. 46.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On USA Rare Earth
A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of USA Rare Earth by 217.5% in the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock valued at $25,000 after purchasing an additional 1,433 shares during the last quarter. NewEdge Advisors LLC boosted its stake 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 buying an additional 1,424 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in USA Rare Earth during the fourth quarter worth $28,000. Havemeyer Place LP purchased a new stake in USA Rare Earth in the 4th quarter valued at $33,000. Finally, National Bank of Canada FI grew its holdings in USA Rare Earth by 110.0% in the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in the last quarter.
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.