The Manufacturers Life Insurance Company Makes New Investment in USA Rare Earth Inc. $USAR

The Manufacturers Life Insurance Company purchased a new position in shares of USA Rare Earth Inc. (NASDAQ:USAR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 110,673 shares of the company’s stock, valued at approximately $2,388,000.

Other institutional investors have also recently made changes to their positions in the company. Algert Global LLC bought a new stake in shares of USA Rare Earth in the second quarter valued at about $264,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in USA Rare Earth during the 2nd quarter worth about $484,000. Northwestern Mutual Wealth Management Co. bought a new position in USA Rare Earth during the 2nd quarter worth about $187,000. Korea Investment CORP purchased a new position in USA Rare Earth during the 2nd quarter valued at about $18,108,000. Finally, Allworth Financial LP bought a new stake in shares of USA Rare Earth in the 2nd quarter valued at about $38,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Roth Capital lowered their price target on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. 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 report on Wednesday, July 22nd. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Finally, Jefferies Financial Group started coverage on USA Rare Earth in a research report on Wednesday. They set a “buy” rating and a $21.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, USA Rare Earth presently has a consensus rating of “Moderate Buy” and an average target price of $33.71.

Insider Activity

In related news, Director Carolyn Trabuco sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the completion of the transaction, the director 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 legal filing with the SEC, which is available through this link. 9.10% of the stock is currently owned by insiders.

USA Rare Earth Price Performance

USAR opened at $17.85 on Thursday. The firm has a market capitalization of $3.98 billion, a PE ratio of -7.35 and a beta of 2.58. The business’s 50-day moving average is $17.76 and its two-hundred day moving average is $20.00. USA Rare Earth Inc. has a 1 year low of $11.45 and a 1 year high of $43.98.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. As a group, sell-side analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current year.

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.