UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in USA Rare Earth Inc. (NASDAQ:USAR – Free Report) by 103.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 258,383 shares of the company’s stock after acquiring an additional 131,219 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of USA Rare Earth worth $5,576,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 shares in the last quarter. Raymond James Financial Inc. purchased a new position in USA Rare Earth during the 2nd quarter worth $223,000. Lighthouse Investment Partners LLC bought a new stake in shares of USA Rare Earth in the 2nd quarter worth $329,000. Bank of America Corp DE raised its holdings in shares of 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 last quarter. Finally, LMR Partners LLP bought a new position in shares of USA Rare Earth during the second quarter valued at about $145,000.
USA Rare Earth Price Performance
NASDAQ:USAR opened at $17.66 on Wednesday. The company has a market capitalization of $3.94 billion, a P/E ratio of -7.27 and a beta of 2.58. The business has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $19.96. USA Rare Earth Inc. has a 1 year low of $11.45 and a 1 year high of $43.98.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on USAR shares. Roth Capital dropped their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Benchmark reaffirmed a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. 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, Needham & Company LLC decreased their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Ten investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $33.71.
Read Our Latest Analysis on USA Rare Earth
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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