USA Rare Earth (NASDAQ:USAR) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of USA Rare Earth (NASDAQ:USAR) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks reports.

USAR has been the topic of several other research reports. Wall Street Zen lowered USA Rare Earth from a “sell” rating to a “strong sell” rating in a report on Saturday, October 24th. Cantor Fitzgerald decreased their price target on USA Rare Earth from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a research report on Wednesday, November 4th. Roth Capital dropped their price objective on 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. Finally, Texas Capital raised USA Rare Earth to a “strong-buy” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

USA Rare Earth Trading Down 2.4%

Shares of USAR stock opened at $8.07 on Wednesday. USA Rare Earth has a 1 year low of $6.84 and a 1 year high of $32.80. The firm’s fifty day moving average price is $12.47 and its two-hundred day moving average price is $18.28. The firm has a market capitalization of $1.97 billion, a P/E ratio of -9.96 and a beta of 2.79.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.25). The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $6.50 million. USA Rare Earth had a negative return on equity of 12.81% and a negative net margin of 716.54%. During the same quarter in the prior year, the company earned ($0.25) earnings per share. As a group, equities research analysts forecast that USA Rare Earth will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new position in USA Rare Earth during the second quarter worth approximately $38,000. Ameritas Advisory Services LLC lifted its position in shares of USA Rare Earth by 276.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock valued at $43,000 after buying an additional 1,459 shares during the last quarter. First PREMIER Bank boosted its stake in shares of USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after acquiring an additional 1,000 shares during the period. MCF Advisors LLC bought a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $43,000. Finally, Continuum Advisory LLC acquired a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $50,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc. is developing a U.S.-focused supply chain for rare earth materials and permanent magnets used in electric vehicles, wind turbines, electronics, aerospace and defense applications. Its planned activities span mineral extraction, materials processing and magnet manufacturing. The company is advancing the Round Top deposit in West Texas, a project that contains rare earth elements as well as other minerals used in advanced technologies. USA Rare Earth has described the deposit as a potential source of both light and heavy rare earths, which are important inputs for high-performance magnets and other industrial products.