USA Rare Earth (NASDAQ:USAR) Rating Lowered to Strong Sell at Wall Street Zen

USA Rare Earth (NASDAQ:USAR) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages have also commented on USAR. Needham & Company LLC dropped their price objective on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Texas Capital raised USA Rare Earth to a “strong-buy” rating in a research note on Tuesday, October 20th. Roth Capital reduced their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. One research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.71.

USA Rare Earth Price Performance

NASDAQ:USAR opened at $9.33 on Friday. USA Rare Earth has a 52 week low of $9.26 and a 52 week high of $32.80. The stock’s 50-day moving average price is $15.12 and its 200-day moving average price is $18.92. The stock has a market capitalization of $2.28 billion, a PE ratio of -3.84 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million during the quarter. Sell-side analysts expect that USA Rare Earth will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corecam Pte. Ltd. grew its stake in USA Rare Earth by 33.0% during the 3rd quarter. Corecam Pte. Ltd. now owns 19,606 shares of the company’s stock valued at $276,000 after acquiring an additional 4,869 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in USA Rare Earth in the 3rd quarter valued at about $247,000. Sterling Capital Management LLC lifted its stake in USA Rare Earth by 955.3% in the 3rd quarter. Sterling Capital Management LLC now owns 7,197 shares of the company’s stock worth $101,000 after purchasing an additional 6,515 shares in the last quarter. Credit Capital Investments LLC purchased a new position in USA Rare Earth in the 3rd quarter worth approximately $324,000. Finally, Brookstone Capital Management lifted its stake in USA Rare Earth by 48.0% in the 3rd quarter. Brookstone Capital Management now owns 16,259 shares of the company’s stock worth $229,000 after purchasing an additional 5,275 shares in the last quarter.

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.