USA Rare Earth (NASDAQ:USAR) Stock Gets Downgrade from Zacks Research

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

A number of other brokerages also recently issued reports on USAR. Texas Capital raised shares of USA Rare Earth to a “strong-buy” rating in a report on Tuesday, October 20th. Jefferies Financial Group reiterated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday. Wall Street Zen cut shares of USA Rare Earth from a “sell” rating to a “strong sell” rating in a report on Saturday, October 24th. Roth Capital lowered 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 report on Tuesday, July 21st. Finally, Needham & Company LLC dropped their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

USA Rare Earth Price Performance

USA Rare Earth stock opened at $8.07 on Wednesday. USA Rare Earth has a one year low of $6.84 and a one year high of $32.80. The stock has a market capitalization of $1.97 billion, a PE ratio of -9.96 and a beta of 2.79. The business’s fifty day moving average is $12.47 and its 200 day moving average is $18.28.

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

Institutional Trading of USA Rare Earth

A number of hedge funds have recently bought and sold shares of USAR. Allworth Financial LP purchased a new position in USA Rare Earth in the second quarter worth about $38,000. Ameritas Advisory Services LLC increased its position in shares of USA Rare Earth by 276.3% during the 2nd 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. First PREMIER Bank increased its position 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 valued at $43,000 after purchasing an additional 1,000 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of USA Rare Earth during the 2nd quarter valued at about $43,000. Finally, Continuum Advisory LLC bought a new position in shares of USA Rare Earth in 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.