Texas Capital Bank Wealth Management Services Inc Takes $696,000 Position in USA Rare Earth Inc. $USAR

Texas Capital Bank Wealth Management Services Inc purchased a new stake in USA Rare Earth Inc. (NASDAQ:USAR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 58,500 shares of the company’s stock, valued at approximately $696,000.

Several other hedge funds also recently added to or reduced their stakes in USAR. NewEdge Advisors LLC grew its position in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the period. Raymond James Financial Inc. purchased a new position in USA Rare Earth in the second quarter worth approximately $223,000. Lighthouse Investment Partners LLC purchased a new position in USA Rare Earth in the second quarter worth approximately $329,000. Bank of America Corp DE grew its position in USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after acquiring an additional 199,819 shares during the period. Finally, LMR Partners LLP purchased a new position in USA Rare Earth in the second quarter worth approximately $145,000.

USA Rare Earth Stock Performance

Shares of USAR stock opened at $28.19 on Friday. The firm’s 50 day moving average price is $20.96 and its 200-day moving average price is $18.80. USA Rare Earth Inc. has a one year low of $8.00 and a one year high of $43.98. The firm has a market cap of $6.29 billion, a P/E ratio of -7.19 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. As a group, research analysts predict that USA Rare Earth Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on USAR shares. Canaccord Genuity Group increased their price objective on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Wedbush increased their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

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.