Virtu Financial LLC Takes Position in USA Rare Earth Inc. $USAR

Virtu Financial LLC purchased a new stake in USA Rare Earth Inc. (NASDAQ:USAR) in the fourth quarter, Holdings Channel reports. The firm purchased 69,940 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bayshore Capital Advisors LLC bought a new position in USA Rare Earth in the fourth quarter worth approximately $102,378,000. Vanguard Group Inc. raised its position in USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after purchasing an additional 5,083,288 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after buying an additional 3,909,455 shares during the period. Inflection Point Holdings II LLC purchased a new stake in shares of USA Rare Earth in the 4th quarter worth $37,188,000. Finally, State Street Corp grew its position in shares of USA Rare Earth by 78.4% during the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after buying an additional 2,212,177 shares in the last quarter.

USA Rare Earth Stock Performance

USAR opened at $24.64 on Monday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -6.29 and a beta of 2.33. USA Rare Earth Inc. has a 12 month low of $9.32 and a 12 month high of $43.98. The stock has a fifty day moving average price of $23.64 and a 200-day moving average price of $19.97.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. On average, equities research analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

USAR has been the subject of several recent research reports. Needham & Company LLC started coverage on USA Rare Earth in a report on Monday, June 1st. They issued a “buy” rating and a $39.00 price objective for the company. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a report on Wednesday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a report on Thursday, June 4th. Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, USA Rare Earth presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

Insider Buying and Selling

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the 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 completion of the sale, the director directly 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 filing with the SEC, which can be accessed through this hyperlink. Corporate 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.