Hsbc Holdings PLC acquired a new stake in USA Rare Earth Inc. (NASDAQ:USAR – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 48,798 shares of the company’s stock, valued at approximately $734,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. raised its holdings in USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares in the last quarter. Bayshore Capital Advisors LLC bought a new position in USA Rare Earth in the fourth quarter valued at approximately $102,378,000. Vanguard Group Inc. grew its stake in USA Rare Earth by 533.3% in the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares in the last quarter. State Street Corp increased its position in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after purchasing an additional 2,212,177 shares during the last quarter. Finally, Inflection Point Holdings II LLC acquired a new position in shares of USA Rare Earth during the 4th quarter worth approximately $37,188,000.
USA Rare Earth Price Performance
Shares of USA Rare Earth stock opened at $14.65 on Friday. The business has a fifty day simple moving average of $20.90 and a two-hundred day simple moving average of $20.55. USA Rare Earth Inc. has a 1 year low of $11.13 and a 1 year high of $43.98. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -3.74 and a beta of 2.45.
Wall Street Analyst Weigh In
USAR has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a research note on Thursday, June 4th. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Northland Securities started coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $35.83.
View Our Latest Stock Analysis on USA Rare Earth
Insider Activity at USA Rare Earth
In related news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.10% of the company’s stock.
About USA Rare Earth
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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