USA Rare Earth (NASDAQ:USAR) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• USA Rare Earth reported quarterly earnings of ($0.08) EPS, exceeding expectations by $0.05, as analysts had forecasted a loss of ($0.13).
• The company's stock price fell to $15.44 after hitting a trading volume significantly higher than its average, with a 52-week range between $5.56 and $20.00.
• Analysts have shown a positive shift, upgrading their ratings on USA Rare Earth, with at least two firms assigning a "buy" rating and price targets of $16.00 and $17.00.

USA Rare Earth (NASDAQ:USAR - Get Free Report) issued its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05, Zacks reports.

USA Rare Earth Price Performance

USAR stock traded down $0.82 during trading on Monday, hitting $15.44. The company had a trading volume of 10,905,865 shares, compared to its average volume of 6,742,207. USA Rare Earth has a 52-week low of $5.56 and a 52-week high of $20.00. The firm has a 50 day moving average of $12.40.

Analyst Upgrades and Downgrades

Several equities analysts have commented on USAR shares. Wall Street Zen upgraded shares of USA Rare Earth from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research report on Friday, June 13th. They set a "buy" rating and a $17.00 price objective for the company. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Finally, Cantor Fitzgerald initiated coverage on shares of USA Rare Earth in a research note on Friday, August 1st. They issued an "overweight" rating and a $16.00 target price on the stock.

About USA Rare Earth

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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