Jennison Associates LLC Buys New Shares in USA Rare Earth Inc. $USAR

Jennison Associates LLC bought a new stake in USA Rare Earth Inc. (NASDAQ:USAR) in the fourth quarter, HoldingsChannel reports. The fund bought 133,267 shares of the company’s stock, valued at approximately $1,586,000.

Several other institutional investors also recently bought and sold shares of USAR. NewEdge Advisors LLC grew its stake in USA Rare Earth by 158.2% during the second 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 period. National Bank of Canada FI grew its stake in USA Rare Earth by 110.0% during 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. Osaic Holdings Inc. purchased a new stake in USA Rare Earth during the second quarter worth approximately $38,000. KLP Kapitalforvaltning AS purchased a new stake in USA Rare Earth during the third quarter worth approximately $69,000. Finally, CWM LLC purchased a new stake in USA Rare Earth during the fourth quarter worth approximately $69,000.

USA Rare Earth Price Performance

NASDAQ USAR opened at $26.33 on Monday. USA Rare Earth Inc. has a 12 month low of $8.00 and a 12 month high of $43.98. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -8.78 and a beta of 2.38. The company’s fifty day moving average price is $18.81 and its two-hundred day moving average price is $18.43.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The business had revenue of $1.64 million for the quarter. As a group, analysts anticipate that USA Rare Earth Inc. will post -0.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of 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 boosted their price objective on shares of USA Rare Earth from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Benchmark assumed coverage on shares of USA Rare Earth in a research note on Wednesday, January 21st. They set a “buy” rating for the company. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a research note on Monday, April 20th. Finally, Wedbush assumed coverage on shares of USA Rare Earth in a research note on Monday, April 20th. They set an “outperform” rating and a $29.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.20.

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.