USA Rare Earth (NASDAQ:USAR) Now Covered by Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group assumed coverage on shares of USA Rare Earth (NASDAQ:USAR) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 17.65% from the stock’s current price.

Several other brokerages have also recently issued reports on USAR. Roth Capital dropped their price objective 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. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Weiss Ratings lowered shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC reduced their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Trading Up 3.4%

Shares of USAR stock opened at $17.85 on Wednesday. The business’s 50 day moving average is $17.76 and its two-hundred day moving average is $20.00. USA Rare Earth has a twelve month low of $11.45 and a twelve month high of $43.98. The company has a market capitalization of $3.98 billion, a P/E ratio of -7.35 and a beta of 2.58.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. As a group, equities analysts predict that USA Rare Earth will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in shares of USA Rare Earth by 161.6% in the second quarter. HighTower Advisors LLC now owns 34,925 shares of the company’s stock valued at $754,000 after purchasing an additional 21,574 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in USA Rare Earth during the second quarter worth $581,000. Carlson Financial Inc. boosted its position in USA Rare Earth by 5.7% during the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock worth $254,000 after purchasing an additional 635 shares in the last quarter. California State Teachers Retirement System boosted its position in USA Rare Earth by 3,636.5% during the second quarter. California State Teachers Retirement System now owns 4,336,177 shares of the company’s stock worth $93,575,000 after purchasing an additional 4,220,129 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in 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 purchasing an additional 1,459 shares during the last quarter.

USA Rare Earth Company Profile

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.