68,201 Shares in USA Rare Earth Inc. $USAR Purchased by Texas Capital Bank Wealth Management Services Inc

Key Points

• Texas Capital Bank Wealth Management purchased 68,201 USA Rare Earth shares in the second quarter, valued at approximately $1.47 million. Several other funds also increased or initiated positions.
• Director Carolyn Trabuco sold 13,000 shares for about $296,010, reducing her holdings by 40.9%; insiders collectively own 9.1% of the company.
• USA Rare Earth shares were trading at $19.29, down 3.6%, after the company reported a quarterly loss of $0.15 per share, missing estimates by $0.08. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.83.

Texas Capital Bank Wealth Management Services Inc bought a new position in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 68,201 shares of the company's stock, valued at approximately $1,472,000.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company's stock valued at $25,000 after buying an additional 1,433 shares during the period. NewEdge Advisors LLC boosted its position 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 acquiring an additional 1,424 shares during the period. Ascentis Independent Advisors purchased a new position in USA Rare Earth during the first quarter valued at approximately $27,000. Center for Financial Planning Inc. purchased a new position in USA Rare Earth during the fourth quarter valued at approximately $28,000. Finally, Havemeyer Place LP bought a new stake in USA Rare Earth during the 4th quarter worth approximately $33,000.

Insider Activity at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the 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 transaction, the director owned 18,783 shares of the company's stock, valued at $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 available at this link. 9.10% of the stock is owned by insiders.

USA Rare Earth Trading Down 3.6%

Shares of NASDAQ USAR opened at $19.29 on Tuesday. The business has a 50-day moving average of $18.80 and a 200-day moving average of $20.35. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of -7.94 and a beta of 2.55. 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 - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. On average, analysts predict that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

USAR has been the topic of several recent analyst reports. Roth Capital lowered 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 note on Tuesday, July 21st. Wedbush upped their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Benchmark reaffirmed a "buy" rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Northland Securities initiated coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an "outperform" rating and a $45.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price objective 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. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, USA Rare Earth has a consensus rating of "Moderate Buy" and an average price target of $35.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source