Geode Capital Management LLC Has $7.16 Million Position in USA Rare Earth Inc. $USAR

Geode Capital Management LLC raised its holdings in USA Rare Earth Inc. (NASDAQ:USAR) by 2,437.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 653,290 shares of the company’s stock after acquiring an additional 627,545 shares during the quarter. Geode Capital Management LLC owned about 0.72% of USA Rare Earth worth $7,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newtyn Management LLC bought a new position in shares of USA Rare Earth in the 1st quarter worth $4,114,000. Pier 88 Investment Partners LLC bought a new position in USA Rare Earth during the second quarter worth about $588,000. Titleist Asset Management LLC bought a new position in USA Rare Earth during the first quarter worth about $145,000. MMCAP International Inc. SPC acquired a new position in shares of USA Rare Earth during the 2nd quarter worth about $261,000. Finally, International Assets Investment Management LLC bought a new stake in shares of USA Rare Earth in the 2nd quarter valued at about $250,000.

USA Rare Earth Trading Down 1.5%

Shares of USAR opened at $17.22 on Friday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -33.12 and a beta of 0.91. USA Rare Earth Inc. has a 12 month low of $5.56 and a 12 month high of $43.98. The firm has a fifty day simple moving average of $20.31 and a 200 day simple moving average of $15.65.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on USAR shares. 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. Canaccord Genuity Group lifted their price target on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a research note on Monday. Finally, William Blair initiated coverage on USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

About USA Rare Earth

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.