USA Rare Earth initiated with a Buy at Canaccord

Canaccord initiated coverage of USA Rare Earth (USAR) with a Buy rating and $17 price target The firm sees “healthy” growth potential beyond 2035, assuming the company successfully manufactures magnets off the first four production lines and brings the Round Top mine to life. The Round Top mineral operations represent “optionality” for USA Rare Earth, says the analyst, whose model assumes production beginning in 2033, with potential material revenue upside over time.