Altfest L J & Co. Inc. Purchases Shares of 788,477 USA Rare Earth Inc. $USAR

Key Points

• Altfest L J & Co. Inc. acquired a new position of 788,477 shares in USA Rare Earth (NASDAQ:USAR) in Q3, valued at about $13.55 million and representing roughly 1.5% of Altfest’s portfolio (0.69% ownership of USAR).
• Analyst sentiment is broadly positive — six Buys versus one Sell — with a MarketBeat consensus target price of $26.33.
• USA Rare Earth is a development-stage critical minerals company focused on the Round Top deposit in Texas; shares opened at $14.15 (trading up 18.9%), the company has a market cap of $1.88 billion and reported a recent quarterly EPS of ($0.25), missing estimates.

Altfest L J & Co. Inc. acquired a new position in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 788,477 shares of the company's stock, valued at approximately $13,554,000. USA Rare Earth accounts for approximately 1.5% of Altfest L J & Co. Inc.'s portfolio, making the stock its 17th biggest position. Altfest L J & Co. Inc. owned 0.69% of USA Rare Earth as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC raised its stake 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. SBI Securities Co. Ltd. increased its holdings in USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company's stock valued at $29,000 after buying an additional 2,612 shares during the period. Osaic Holdings Inc. acquired a new position in shares of USA Rare Earth in the 2nd quarter valued at $38,000. Apollon Wealth Management LLC bought a new position in shares of USA Rare Earth during the 3rd quarter worth about $174,000. Finally, LMR Partners LLP acquired a new stake in shares of USA Rare Earth during the 2nd quarter valued at about $145,000.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of USA Rare Earth in a research report on Monday. UBS Group reiterated a "buy" rating on shares of USA Rare Earth in a research note on Monday, December 8th. Canaccord Genuity Group increased their target price on USA Rare Earth from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 7th. William Blair assumed coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an "outperform" rating on the stock. Finally, Benchmark reiterated a "buy" rating on shares of USA Rare Earth in a research report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.33.

USA Rare Earth Trading Up 18.9%

NASDAQ USAR opened at $14.15 on Friday. USA Rare Earth Inc. has a 1-year low of $5.56 and a 1-year high of $43.98. The company has a 50 day moving average of $15.26 and a 200-day moving average of $16.20. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -27.21 and a beta of 0.96.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

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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