Man Group plc Makes New Investment in USA Rare Earth Inc. $USAR

Man Group plc purchased a new stake in USA Rare Earth Inc. (NASDAQ:USAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 118,737 shares of the company’s stock, valued at approximately $2,562,000. Man Group plc owned 0.05% of USA Rare Earth at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in USAR. Allworth Financial LP acquired a new stake in shares of USA Rare Earth during the 2nd quarter valued at about $38,000. Ascentis Independent Advisors acquired a new position in USA Rare Earth in the first quarter worth about $27,000. Larson Financial Group LLC lifted its stake in USA Rare Earth by 217.5% during the fourth quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares during the period. National Bank of Canada FI lifted 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 purchasing an additional 1,100 shares during the period. Finally, KBC Group NV acquired a new stake in USA Rare Earth during the first quarter valued at approximately $35,000.

USA Rare Earth Stock Performance

NASDAQ:USAR opened at $17.82 on Tuesday. The stock’s fifty day moving average price is $17.94 and its two-hundred day moving average price is $20.04. USA Rare Earth Inc. has a 52-week low of $11.45 and a 52-week high of $43.98. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -7.33 and a beta of 2.55.

USA Rare Earth (NASDAQ:USAR) last released its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. On average, equities analysts predict that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

USAR has been the topic of several analyst reports. Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday, June 3rd. Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen upgraded USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. 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 note on Tuesday, May 12th. Finally, Weiss Ratings cut USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.83.

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.