USA Rare Earth (NASDAQ:USAR) Stock Dropped to "Strong Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded USA Rare Earth to “strong sell” from “sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $33.71.
• USAR opened at $9.33, near its 52-week low of $9.26 and well below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.15 per share, missing the $0.07 consensus estimate.
• Several institutional investors, including BlackRock and Bank of America, recently established positions in USA Rare Earth, which is developing a domestic rare-earth mining, processing and magnet-production supply chain centered on its Round Top Mountain project in Texas.

USA Rare Earth (NASDAQ:USAR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also issued reports on the company. Needham & Company LLC dropped their target price on USA Rare Earth from $39.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings downgraded USA Rare Earth from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Cantor Fitzgerald restated an "overweight" rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Roth Capital lowered their price objective 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. Finally, Jefferies Financial Group began coverage on USA Rare Earth in a report on Wednesday, September 2nd. They set a "buy" rating and a $21.00 price objective on the stock. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.71.

USA Rare Earth Stock Performance

USA Rare Earth stock opened at $9.33 on Friday. The stock's 50 day moving average price is $15.12 and its 200 day moving average price is $18.89. The firm has a market capitalization of $2.28 billion, a PE ratio of -3.84 and a beta of 2.66. USA Rare Earth has a one year low of $9.26 and a one year high of $32.80.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. On average, analysts forecast that USA Rare Earth will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of USA Rare Earth

A number of institutional investors and hedge funds have recently modified their holdings of USAR. BlackRock Inc. acquired a new position in shares of USA Rare Earth during the second quarter valued at $335,795,000. Bank of America Corp DE acquired a new stake in shares of USA Rare Earth in the 2nd quarter worth about $32,762,000. Weiss Asset Management LP acquired a new stake in shares of USA Rare Earth in the 1st quarter worth about $17,103,000. Korea Investment CORP bought a new stake in USA Rare Earth in the 2nd quarter valued at about $18,108,000. Finally, Bank of New York Mellon Corp bought a new stake in USA Rare Earth in the 2nd quarter valued at about $13,510,000.

USA Rare Earth Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.