62,403 Shares in USA Rare Earth Inc. $USAR Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new position in USA Rare Earth Inc. (NASDAQ:USAR) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 62,403 shares of the company’s stock, valued at approximately $1,347,000.

A number of other institutional investors have also recently bought and sold shares of USAR. NewEdge Advisors LLC grew its position in shares of USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of USA Rare Earth during the second quarter worth approximately $223,000. Lighthouse Investment Partners LLC acquired a new stake in shares of USA Rare Earth in the second quarter valued at approximately $329,000. Bank of America Corp DE raised its position in shares of 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 valued at $2,659,000 after buying an additional 199,819 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in shares of USA Rare Earth in the second quarter valued at approximately $145,000.

USA Rare Earth Trading Down 4.0%

Shares of USA Rare Earth stock opened at $18.51 on Wednesday. The company has a market cap of $4.13 billion, a PE ratio of -7.62 and a beta of 2.55. The company has a 50 day moving average of $18.75 and a 200-day moving average of $20.30. USA Rare Earth Inc. has a 1-year low of $11.45 and a 1-year high of $43.98.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $5.82 million for the quarter. Research analysts forecast that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling at USA Rare Earth

In other USA Rare Earth news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the sale, the director owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Northland Securities started coverage on USA Rare Earth in a research report on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Canaccord Genuity Group lifted their price objective on USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Wedbush upped their target price on USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC decreased their price target on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, USA Rare Earth 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.