USA Rare Earth Inc. $USAR Holdings Cut by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in USA Rare Earth Inc. (NASDAQ:USAR) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 955,378 shares of the company’s stock after selling 157,622 shares during the period. Renaissance Technologies LLC owned 0.44% of USA Rare Earth worth $14,460,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of USA Rare Earth by 29.1% during the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares during the period. Pier 88 Investment Partners LLC boosted its position in USA Rare Earth by 2.5% during the 4th quarter. Pier 88 Investment Partners LLC now owns 34,700 shares of the company’s stock valued at $413,000 after purchasing an additional 840 shares during the period. SBI Securities Co. Ltd. grew its stake in USA Rare Earth by 20.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,522 shares of the company’s stock worth $66,000 after buying an additional 936 shares during the last quarter. Advisory Services Network LLC grew its stake in USA Rare Earth by 2.0% during the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after buying an additional 1,032 shares during the last quarter. Finally, National Bank of Canada FI increased its position in USA Rare Earth by 110.0% in the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the period.

Wall Street Analysts Forecast Growth

USAR has been the topic of a number of recent research reports. Wedbush raised their target price on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research report on Wednesday, June 3rd. Finally, Roth Capital reduced their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

USA Rare Earth Price Performance

USAR opened at $14.95 on Friday. USA Rare Earth Inc. has a 12 month low of $11.13 and a 12 month high of $43.98. The stock has a market cap of $3.33 billion, a P/E ratio of -3.81 and a beta of 2.45. The stock’s 50 day moving average price is $20.69 and its 200 day moving average price is $20.51.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $5.70 million for the quarter. Equities analysts anticipate that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Activity at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $22.77, for a total transaction of $296,010.00. Following the sale, the director directly owned 18,783 shares in the company, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.