USA Rare Earth (NASDAQ:USAR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised the target price for USA Rare Earth (NASDAQ:USAR) from $21.00 to $22.00, indicating a potential upside of 25.43% from the current stock price.
• Despite the majority of analysts rating USA Rare Earth as a "buy," there are mixed opinions, with Wall Street Zen recently downgrading the stock from "hold" to "sell."
• Insider activity has been notable, with Director Michael Blitzer selling over 2 million shares for approximately $32.9 million, indicating significant insider confidence or strategic repositioning.

USA Rare Earth (NASDAQ:USAR - Get Free Report) had its target price lifted by equities research analysts at Canaccord Genuity Group from $21.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 25.43% from the stock's current price.

Other equities analysts have also issued research reports about the company. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a research note on Monday. Cantor Fitzgerald started coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 price target on the stock. Finally, Wall Street Zen lowered USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.67.

USA Rare Earth Trading Up 1.2%

NASDAQ:USAR opened at $17.54 on Tuesday. USA Rare Earth has a 1-year low of $5.56 and a 1-year high of $20.00. The firm has a 50-day moving average of $14.90.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05.

Insider Activity

In related news, Director Michael Blitzer sold 2,091,849 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total transaction of $32,946,621.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 46.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Newtyn Management LLC bought a new position in USA Rare Earth in the first quarter valued at approximately $4,114,000. Geode Capital Management LLC grew its stake in USA Rare Earth by 2,437.5% in the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company's stock valued at $7,160,000 after purchasing an additional 627,545 shares in the last quarter. Bank of America Corp DE grew its stake in USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock valued at $2,659,000 after purchasing an additional 199,819 shares in the last quarter. Pier 88 Investment Partners LLC bought a new position in USA Rare Earth in the second quarter valued at approximately $588,000. Finally, Advisory Services Network LLC bought a new position in USA Rare Earth in the second quarter valued at approximately $562,000.

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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