Texas Capital Starts USA Rare Earth Coverage at Buy With $28 Target
Photo: TokenPost
Texas Capital Securities analyst Matthew Key initiated coverage of USA Rare Earth with a Buy rating and a $28 price target as the company develops U.S. rare-earth mining, processing and magnet projects. USA Rare Earth’s Round Top project in Texas remained at the exploration stage as of June 30, and mine construction had not begun. The company broke ground Sept. 9 on a metal and magnet facility in Blacksburg, South Carolina, and targets beginning commissioning in 2028. For the six months ended June 30, USA Rare Earth reported no revenue from magnet manufacturing or mineral production.
Source: TokenPost
