62,403 Shares in USA Rare Earth Inc. $USAR Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new position in shares of USA Rare Earth Inc. (NASDAQ:USAR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,403 shares of the company’s stock, valued at approximately $1,347,000.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of 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 purchasing an additional 1,424 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in USA Rare Earth in the 2nd quarter valued at about $223,000. Lighthouse Investment Partners LLC acquired a new stake in USA Rare Earth in the 2nd quarter valued at about $329,000. Bank of America Corp DE grew its holdings in USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after purchasing an additional 199,819 shares during the period. Finally, LMR Partners LLP bought a new position in USA Rare Earth during the second quarter worth about $145,000.

USA Rare Earth Stock Performance

Shares of USAR stock opened at $18.51 on Wednesday. USA Rare Earth Inc. has a 52 week low of $11.45 and a 52 week high of $43.98. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -7.62 and a beta of 2.55. The company has a 50-day simple moving average of $18.75 and a 200 day simple moving average of $20.30.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business 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 at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the company’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 transaction, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on USAR. Roth Capital lowered their price target on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Canaccord Genuity Group lifted their target price on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Weiss Ratings lowered USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Benchmark restated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.83.

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.