USA Rare Earth (NASDAQ:USAR) Stock Rating Lowered by Zacks Research

USA Rare Earth (NASDAQ:USAR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, Zacks reports.

USAR has been the subject of several other reports. Needham & Company LLC dropped their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of USA Rare Earth from a “sell” rating to a “strong sell” rating in a report on Saturday, October 24th. Cantor Fitzgerald reduced their price target on shares of USA Rare Earth from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday. Texas Capital upgraded shares of USA Rare Earth to a “strong-buy” rating in a research report on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

USA Rare Earth Stock Performance

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

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.25). The firm 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 period last year, the firm earned ($0.25) EPS. As a group, sell-side analysts forecast that USA Rare Earth will post -0.74 EPS for the current fiscal year.

Institutional Trading of USA Rare Earth

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of USA Rare Earth during the second quarter valued at $335,795,000. Bank of America Corp DE acquired a new position in USA Rare Earth in the 2nd quarter valued at about $32,762,000. Korea Investment CORP purchased a new position in USA Rare Earth in the 2nd quarter valued at about $18,108,000. Weiss Asset Management LP purchased a new position in USA Rare Earth in the 1st quarter valued at about $17,103,000. Finally, Voya Investment Management LLC boosted its stake in shares of USA Rare Earth by 1,172.6% during the 3rd quarter. Voya Investment Management LLC now owns 1,161,473 shares of the company’s stock worth $16,354,000 after purchasing an additional 1,070,208 shares during the last quarter.

About USA Rare Earth

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.