Bank of New York Mellon Corp Invests $13.51 Million in USA Rare Earth Inc. $USAR

Bank of New York Mellon Corp purchased a new stake in shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 626,036 shares of the company's stock, valued at approximately $13,510,000. Bank of New York Mellon Corp owned approximately 0.28% of USA Rare Earth as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bayshore Capital Advisors LLC purchased a new stake in USA Rare Earth during the 4th quarter valued at $102,378,000. Vanguard Group Inc. increased its holdings in USA Rare Earth by 533.3% in the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company's stock worth $71,834,000 after buying an additional 5,083,288 shares in the last quarter. Alyeska Investment Group L.P. raised its position in USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company's stock worth $219,034,000 after buying an additional 3,909,455 shares during the last quarter. Inflection Point Holdings II LLC bought a new position in USA Rare Earth during the 4th quarter valued at about $37,188,000. Finally, State Street Corp boosted its holdings in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company's stock valued at $59,891,000 after acquiring an additional 2,212,177 shares during the last quarter.

Analyst Ratings Changes

USAR has been the subject of a number of research analyst reports. Needham & Company LLC cut their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen raised USA Rare Earth from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Weiss Ratings downgraded USA Rare Earth from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Roth Capital lowered their price objective 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. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.83.

USA Rare Earth Trading Down 3.1%

NASDAQ USAR opened at $17.26 on Wednesday. USA Rare Earth Inc. has a 12 month low of $11.45 and a 12 month high of $43.98. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -7.10 and a beta of 2.58. The company's 50 day moving average is $17.83 and its two-hundred day moving average is $20.01.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million for the quarter. Sell-side analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Insider Activity

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction dated 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 sale, the director owned 18,783 shares in the company, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.10% of the company's stock.

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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