Altfest L J & Co. Inc. Makes New Investment in USA Rare Earth Inc. $USAR

Altfest L J & Co. Inc. bought a new position in USA Rare Earth Inc. (NASDAQ:USAR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 788,477 shares of the company’s stock, valued at approximately $13,554,000. USA Rare Earth comprises about 1.5% of Altfest L J & Co. Inc.’s portfolio, making the stock its 17th largest position.

Several other hedge funds have also modified their holdings of the stock. Calamos Advisors LLC bought a new position in USA Rare Earth in the third quarter valued at about $3,283,000. Apollon Wealth Management LLC bought a new stake in USA Rare Earth during the 3rd quarter worth about $174,000. Griffin Asset Management Inc. acquired a new position in USA Rare Earth during the 3rd quarter valued at about $260,000. Darwin Wealth Management LLC bought a new position in shares of USA Rare Earth in the 3rd quarter valued at about $693,000. Finally, Farther Finance Advisors LLC grew its position in shares of USA Rare Earth by 1,461,225.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 58,453 shares of the company’s stock worth $1,005,000 after buying an additional 58,449 shares during the period.

USA Rare Earth Price Performance

Shares of USA Rare Earth stock opened at $14.15 on Friday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -27.21 and a beta of 0.96. The stock’s 50-day moving average is $15.26 and its 200-day moving average is $16.20. USA Rare Earth Inc. has a one year low of $5.56 and a one year high of $43.98.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Analyst Upgrades and Downgrades

A number of research firms recently commented on USAR. Benchmark restated a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Canaccord Genuity Group increased their price target on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Monday. Finally, William Blair assumed coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.33.

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.