Analysts at Canaccord Genuity Group began coverage on shares of USA Rare Earth (NASDAQ:USAR - Get Free Report) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $17.00 price target on the stock. Canaccord Genuity Group's price target points to a potential upside of 28.40% from the company's current price.
Separately, Roth Capital began coverage on shares of USA Rare Earth in a research note on Thursday, May 29th. They issued a "buy" rating and a $15.00 price objective for the company.
Read Our Latest Analysis on USAR
USA Rare Earth Stock Performance
Shares of NASDAQ USAR traded down $1.29 during trading hours on Friday, hitting $13.24. The stock had a trading volume of 3,545,135 shares, compared to its average volume of 1,106,065. The company's 50-day moving average price is $10.64. USA Rare Earth has a 52 week low of $5.56 and a 52 week high of $20.00.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in USA Rare Earth stock. Newtyn Management LLC bought a new position in shares of USA Rare Earth Inc (NASDAQ:USAR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth accounts for 0.7% of Newtyn Management LLC's investment portfolio, making the stock its 24th biggest position. Newtyn Management LLC owned about 0.85% of USA Rare Earth at the end of the most recent quarter.
USA Rare Earth Company Profile
(
Get Free Report)
USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.
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