Sei Investments Co. increased its holdings in shares of USA Rare Earth Inc. (NASDAQ:USAR – Free Report) by 923.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 276,819 shares of the company’s stock after buying an additional 249,773 shares during the quarter. Sei Investments Co. owned about 0.13% of USA Rare Earth worth $4,190,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in USAR. NewEdge Advisors LLC increased its stake in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of USA Rare Earth in the second quarter worth approximately $223,000. Lighthouse Investment Partners LLC purchased a new stake in USA Rare Earth in the second quarter valued at approximately $329,000. Bank of America Corp DE grew its holdings 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 during the period. Finally, LMR Partners LLP acquired a new position in USA Rare Earth during the second quarter worth approximately $145,000.
USA Rare Earth Stock Performance
USAR stock opened at $17.41 on Friday. The firm has a market cap of $3.88 billion, a P/E ratio of -4.44 and a beta of 2.55. USA Rare Earth Inc. has a 1 year low of $11.45 and a 1 year high of $43.98. The stock has a 50-day simple moving average of $19.89 and a 200-day simple moving average of $20.51.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on USAR. Canaccord Genuity Group lifted their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 target price on shares of USA Rare Earth in a report on Thursday, June 4th. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Northland Securities assumed coverage on USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Wedbush boosted their target price on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.83.
View Our Latest Analysis on USAR
Insider Activity at USA Rare Earth
In other news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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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