110,673 Shares in USA Rare Earth Inc. $USAR Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of USA Rare Earth Inc. (NASDAQ:USAR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 110,673 shares of the company’s stock, valued at approximately $2,388,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of USA Rare Earth in the 2nd quarter worth approximately $38,000. Ascentis Independent Advisors purchased a new stake in USA Rare Earth during the 1st quarter valued at $27,000. Larson Financial Group LLC lifted its position in USA Rare Earth by 217.5% in the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after buying an additional 1,433 shares during the last quarter. National Bank of Canada FI lifted its position in USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the last quarter. Finally, KBC Group NV purchased a new position in USA Rare Earth during the first quarter worth $35,000.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the transaction, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.10% of the company’s stock.

Wall Street Analyst Weigh In

USAR has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of USA Rare Earth in a research note on Wednesday. They issued a “buy” rating and a $21.00 target price on the stock. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. 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 research note on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Trading Up 3.4%

NASDAQ USAR opened at $17.85 on Thursday. The company’s 50-day moving average price is $17.76 and its 200-day moving average price is $20.00. The stock has a market cap of $3.98 billion, a PE ratio of -7.35 and a beta of 2.58. USA Rare Earth Inc. has a 12 month low of $11.45 and a 12 month high of $43.98.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. As a group, sell-side analysts forecast that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

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.