Research analysts at Canaccord Genuity Group initiated 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 objective points to a potential upside of 21.69% from the stock's previous close.
Separately, Roth Capital assumed coverage on 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.
Check Out Our Latest Report on USAR
USA Rare Earth Stock Performance
Shares of USAR stock traded up $0.73 during trading on Friday, hitting $13.97. 2,917,124 shares of the stock traded hands, compared to its average volume of 1,121,251. USA Rare Earth has a 52-week low of $5.56 and a 52-week high of $20.00. The firm's fifty day moving average price is $10.64.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.19) EPS for the quarter.
Institutional Trading of USA Rare Earth
An institutional investor recently bought a new position in USA Rare Earth stock. Newtyn Management LLC acquired a new stake in USA Rare Earth Inc (NASDAQ:USAR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth makes up 0.7% of Newtyn Management LLC's investment portfolio, making the stock its 24th biggest position. Newtyn Management LLC owned approximately 0.85% of USA Rare Earth at the end of the most recent reporting period.
USA Rare Earth Company Profile
(
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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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