Bank of New York Mellon Corp Boosts Holdings in USA Rare Earth Inc. $USAR

Bank of New York Mellon Corp raised its position in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) by 93.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 518,673 shares of the company's stock after buying an additional 249,985 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of USA Rare Earth worth $7,850,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of USAR. Alyeska Investment Group L.P. boosted its holdings in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company's stock valued at $219,034,000 after acquiring an additional 3,909,455 shares in the last quarter. Bayshore Capital Advisors LLC purchased a new position in USA Rare Earth during the fourth quarter worth about $102,378,000. Vanguard Group Inc. raised its holdings in USA Rare Earth by 533.3% during the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company's stock worth $71,834,000 after purchasing an additional 5,083,288 shares in the last quarter. State Street Corp lifted its position in USA Rare Earth by 78.4% in the fourth quarter. State Street Corp now owns 5,032,866 shares of the company's stock valued at $59,891,000 after purchasing an additional 2,212,177 shares during the period. Finally, Inflection Point Holdings II LLC acquired a new stake in USA Rare Earth in the fourth quarter valued at about $37,188,000.

USA Rare Earth Stock Performance

Shares of USAR opened at $14.95 on Monday. USA Rare Earth Inc. has a twelve month low of $11.13 and a twelve month high of $43.98. The firm has a market capitalization of $3.33 billion, a P/E ratio of -3.81 and a beta of 2.55. The firm's 50-day moving average is $20.69 and its two-hundred day moving average is $20.53.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. Analysts predict that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on USAR shares. Canaccord Genuity Group boosted their target price on USA Rare Earth from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Wall Street Zen raised USA Rare Earth from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Benchmark restated a "buy" rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Wedbush lifted their price target on USA Rare Earth from $29.00 to $35.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised USA Rare Earth from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, USA Rare Earth currently has an average rating of "Moderate Buy" and an average price target of $35.83.

Insiders Place Their Bets

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares of the company's stock, valued at approximately $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 9.10% of the stock is owned by insiders.

USA Rare Earth 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.