Geode Capital Management LLC Purchases 627,545 Shares of USA Rare Earth Inc. $USAR

Geode Capital Management LLC increased its position in shares of USA Rare Earth Inc. (NASDAQ:USAR) by 2,437.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 653,290 shares of the company’s stock after purchasing an additional 627,545 shares during the period. Geode Capital Management LLC’s holdings in USA Rare Earth were worth $7,160,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in shares of USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock valued at $29,000 after acquiring an additional 2,612 shares during the period. Pier 88 Investment Partners LLC acquired a new stake in USA Rare Earth in the 2nd quarter valued at about $588,000. MMCAP International Inc. SPC bought a new position in USA Rare Earth during the second quarter worth about $261,000. International Assets Investment Management LLC acquired a new position in USA Rare Earth during the second quarter worth approximately $250,000. Finally, Newtyn Management LLC bought a new stake in USA Rare Earth in the first quarter valued at approximately $4,114,000.

USA Rare Earth Stock Performance

Shares of USA Rare Earth stock opened at $17.22 on Friday. The firm has a 50-day moving average of $20.31 and a 200-day moving average of $15.65. USA Rare Earth Inc. has a 52-week low of $5.56 and a 52-week high of $43.98. The stock has a market cap of $2.28 billion, a PE ratio of -33.12 and a beta of 0.91.

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

Analyst Ratings Changes

Several brokerages have recently commented on USAR. Canaccord Genuity Group lifted their target price on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of USA Rare Earth in a report on Monday. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research report on Friday, October 10th. William Blair initiated coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating for the company. Finally, Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, USA Rare Earth has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.