Bank of America Corp DE Decreases Stock Position in USA Rare Earth Inc. $USAR

Key Points

• Bank of America reduced its USA Rare Earth position by 11.1% in the first quarter, selling 177,197 shares but retaining 1.42 million shares valued at approximately $21.5 million, or 0.65% of the company.
• USA Rare Earth reported a quarterly loss of $0.15 per share, missing the consensus estimate of a $0.07 loss, while generating $5.82 million in revenue. The stock opened at $18.51, down 4.0%, and has traded between $11.45 and $43.98 over the past year.
• Analyst sentiment remains broadly positive, with nine Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $35.83; however, an insider recently sold 13,000 shares at $22.77 each.

Bank of America Corp DE lessened its holdings in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,422,926 shares of the company's stock after selling 177,197 shares during the quarter. Bank of America Corp DE owned 0.65% of USA Rare Earth worth $21,536,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC raised its position in shares of USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company's stock valued at $25,000 after purchasing an additional 1,433 shares during the last quarter. NewEdge Advisors LLC increased its stake in USA Rare Earth by 158.2% during the 2nd 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. Ascentis Independent Advisors acquired a new position in USA Rare Earth during the 1st quarter valued at approximately $27,000. Center for Financial Planning Inc. purchased a new position in shares of USA Rare Earth in the fourth quarter worth $28,000. Finally, Havemeyer Place LP purchased a new position in shares of USA Rare Earth in the fourth quarter worth $33,000.

Insider Buying and Selling at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the business's 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 completion of the transaction, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.10% of the stock is currently owned by company insiders.

USA Rare Earth Stock Down 4.0%

USA Rare Earth stock opened at $18.51 on Wednesday. The business's 50-day moving average price is $18.75 and its 200 day moving average price is $20.30. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -7.62 and a beta of 2.55. USA Rare Earth Inc. has a 52 week low of $11.45 and a 52 week high of $43.98.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. Equities analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of USA Rare Earth from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Wedbush lifted their price target on USA Rare Earth from $29.00 to $35.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Needham & Company LLC cut their price objective on shares of USA Rare Earth from $39.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Finally, Northland Securities initiated coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They set an "outperform" rating and a $45.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, USA Rare Earth has a consensus rating of "Moderate Buy" and an average target price of $35.83.

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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