USA Rare Earth Inc. $USAR Shares Sold by Sovran Advisors LLC

Sovran Advisors LLC lowered its stake in USA Rare Earth Inc. (NASDAQ:USAR) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 456,920 shares of the company’s stock after selling 32,787 shares during the period. Sovran Advisors LLC’s holdings in USA Rare Earth were worth $6,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in USAR. Ascentis Independent Advisors purchased a new stake in shares of USA Rare Earth during the first quarter valued at $27,000. Larson Financial Group LLC raised its stake in USA Rare Earth by 217.5% in the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after acquiring an additional 1,433 shares during the last quarter. National Bank of Canada FI lifted its position in USA Rare Earth by 110.0% during the 3rd quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares during the period. NewEdge Advisors LLC lifted its position in USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the period. Finally, Center for Financial Planning Inc. purchased a new stake in USA Rare Earth during the 4th quarter valued at about $28,000.

USA Rare Earth Trading Down 2.1%

USAR traded down $0.39 during midday trading on Friday, hitting $18.48. 5,912,407 shares of the company were exchanged, compared to its average volume of 11,899,707. The company’s 50 day simple moving average is $23.55 and its 200 day simple moving average is $20.41. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -4.71 and a beta of 2.45. USA Rare Earth Inc. has a 1-year low of $10.50 and a 1-year high of $43.98.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. On average, equities analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

USAR has been the subject of several research analyst reports. Wedbush raised their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group upped their target price on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Roth Capital reiterated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Northland Securities began coverage on shares of USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target for the company. Finally, Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

Insiders Place Their Bets

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 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 legal filing with the SEC, which can be accessed through this link. 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.