Texas Capital Bank Wealth Management Services Inc acquired a new position in USA Rare Earth Inc. (NASDAQ:USAR – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 68,201 shares of the company’s stock, valued at approximately $1,472,000.
Several other institutional investors have also recently modified their holdings of USAR. NewEdge Advisors LLC boosted its stake in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of USA Rare Earth in the 2nd quarter worth approximately $223,000. Lighthouse Investment Partners LLC purchased a new stake in shares of USA Rare Earth in the 2nd quarter valued at $329,000. Bank of America Corp DE grew its holdings in shares of USA Rare Earth by 465.7% during the 2nd 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 last quarter. Finally, LMR Partners LLP bought a new position in shares of USA Rare Earth during the 2nd quarter valued at $145,000.
USA Rare Earth Trading Down 3.6%
USA Rare Earth stock opened at $19.29 on Tuesday. The firm has a market cap of $4.30 billion, a P/E ratio of -7.94 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 firm has a 50-day moving average of $18.80 and a 200-day moving average of $20.35.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on USAR. Weiss Ratings lowered shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Canaccord Genuity Group boosted their target price on 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 restated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Finally, Northland Securities started coverage on USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, USA Rare Earth has a consensus rating of “Moderate Buy” and a consensus price target of $35.83.
Read Our Latest Stock Report on USAR
Insider Buying and Selling at USA Rare Earth
In other news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.10% of the company’s stock.
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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