Lynas Rare Earths (LYC) – One-off miss
January 29, 2025
Lynas Rare Earths Limited, together with its subsidiaries, engages in the exploration, development, mining, extraction, and processing of rare earth minerals in Australia and Malaysia. The company also develops and operates advanced material processing and concentration plants. Lynas was incorporated in 1983 and is based in Perth, Australia.
Lynas reported disappointing production in the December quarter, driven by the failure to recognise the low quality of its mixed rare earth carbonate (MREC) from its Mt Weld project at Kalgoorlie. We don’t expect the issue to reoccur, and Lynas hopes to catch up on some of the lost sales over the next two quarters. The production miss does not affect our forward estimates, so we maintain our Buy recommendation and target price of $7.80
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