Janney Montgomery Scott LLC cut its holdings in shares of USA Rare Earth Inc. (NASDAQ:USAR – Free Report) by 89.9% in the first quarter, HoldingsChannel reports. The fund owned 13,575 shares of the company’s stock after selling 121,185 shares during the quarter. Janney Montgomery Scott LLC’s holdings in USA Rare Earth were worth $205,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of USAR. Tudor Investment Corp ET AL acquired a new stake in shares of USA Rare Earth during the third quarter worth approximately $8,304,000. Jennison Associates LLC acquired a new position in USA Rare Earth in the 4th quarter valued at approximately $1,586,000. JPMorgan Chase & Co. purchased a new stake in USA Rare Earth in the 3rd quarter worth approximately $734,000. Sovran Advisors LLC lifted its position in USA Rare Earth by 119.7% in the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock worth $5,828,000 after buying an additional 266,783 shares in the last quarter. Finally, Kercheville Advisors LLC boosted its stake in shares of USA Rare Earth by 272.0% during the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock valued at $443,000 after buying an additional 27,200 shares during the period.
USA Rare Earth Price Performance
Shares of USAR opened at $15.65 on Monday. The company’s fifty day moving average is $22.53 and its 200-day moving average is $20.56. USA Rare Earth Inc. has a 12 month low of $10.91 and a 12 month high of $43.98. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -3.99 and a beta of 2.45.
Insiders Place Their Bets
In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the sale, the director owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Needham & Company LLC began coverage on USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a research note on Thursday, June 4th. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.83.
Get Our Latest Stock Analysis on USAR
USA Rare Earth Company Profile
USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.
In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.
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