HITE Hedge Asset Management LLC Makes New Investment in USA Rare Earth Inc. $USAR

HITE Hedge Asset Management LLC bought a new stake in USA Rare Earth Inc. (NASDAQ:USAR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 231,080 shares of the company’s stock, valued at approximately $3,972,000.

A number of other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC raised 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 buying an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in USA Rare Earth by 73.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock valued at $79,000 after acquiring an additional 1,949 shares in the last quarter. Osaic Holdings Inc. purchased a new position in USA Rare Earth during the 2nd quarter valued at about $38,000. KLP Kapitalforvaltning AS acquired a new position in USA Rare Earth during the third quarter worth about $69,000. Finally, Titleist Asset Management LLC raised its position in USA Rare Earth by 20.2% during the second quarter. Titleist Asset Management LLC now owns 29,380 shares of the company’s stock worth $322,000 after acquiring an additional 4,930 shares during the last quarter.

Insider Buying and Selling

In other news, Director Michael Blitzer acquired 100,000 shares of USA Rare Earth stock in a transaction that occurred on Thursday, January 29th. The shares were acquired at an average price of $21.44 per share, with a total value of $2,144,000.00. Following the completion of the purchase, the director owned 847,500 shares of the company’s stock, valued at approximately $18,170,400. This represents a 13.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Trabuco bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were purchased at an average price of $22.60 per share, for a total transaction of $29,380.00. Following the transaction, the director owned 1,300 shares of the company’s stock, valued at $29,380. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 46.60% of the company’s stock.

Analyst Ratings Changes

USAR has been the topic of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday, December 29th. UBS Group restated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Roth Mkm upped their target price on USA Rare Earth from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald increased their target price on USA Rare Earth from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Canaccord Genuity Group raised their price target on USA Rare Earth from $23.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, USA Rare Earth has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

USA Rare Earth Trading Down 6.4%

NASDAQ:USAR opened at $19.75 on Friday. USA Rare Earth Inc. has a 12-month low of $5.56 and a 12-month high of $43.98. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -37.98 and a beta of 1.05. The company’s 50-day moving average is $19.96 and its two-hundred day moving average is $18.56.

About USA Rare Earth

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.