Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Lynas Rare Earths Limited
  6. News
  7. Summary
    LYC   AU000000LYC6

LYNAS RARE EARTHS LIMITED

(LYC)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Lynas Rare Earths : Australia's Lynas posts record revenue on robust demand, shares hit 8-year high

07/25/2021 | 06:37pm EDT
FILE PHOTO: A truck carrying rare earths travels towards Lynas Corp's Mount Weld processing plant, in Western Australia

* Lynas reports record quarterly revenue in Q4

* Q4 NdPr production up 79.7% from a year ago

* Softer prices in qtr due to "normal correction" - CEO

July 26 (Reuters) - Australia's Lynas Rare Earths Ltd posted record quarterly revenue on Monday on the back of "very strong" demand for its range of specialized metals that offset softer prices, sending its shares to a more than eight-year high.

Lynas, the largest rare earths producer outside China, reported a jump in fourth-quarter revenue to A$185.9 million ($137 million), more than triple A$38 million a year earlier, pushing the stock up 9% to A$7.01, its highest since January 2013.

Demand for rare earth materials such as neodymium and praseodymium (NdPr) has rebounded from a pandemic-driven drop last year as electric vehicles continue to gain popularity amid a global push to reduce carbon emissions.

NdPr is also used in magnets for windfarms, gadgets like smartphones, and military equipment, and Lynas and other western producers stand to benefit from efforts by the United States to curb its reliance on China for the specialized minerals.

"Demand for Lynas products, in particular for our NdPr product family, continued to be very strong through the quarter, leading to record sales and cash collection," Chief Executive Officer Amanda Lacaze said in a statement.

Lacaze said a drop in prices during the quarter was due to a "normal correction after the sharp and speculative increases seen in the previous months" and added that prices had strengthened again in July.

Lynas produced 1,393 tonnes of NdPr in the quarter, up from 775 tonnes a year ago. Its full product range garnered an average selling price of A$39.1/kg, up from A$20.2/kg last year.

Lynas also said it had identified a second potential site in Malaysia to build a low-level radioactive waste disposal facility amid ongoing delays for clearance of an earlier site identified by the Pahang state government.

($1 = 1.3576 Australian dollars) (Reporting by Tejaswi Marthi and Harish Sridharan, additional reporting by Shashwat Awasthi in Bengaluru; Editing by Sonya Hepinstall and Richard Pullin)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IONIC RARE EARTHS LIMITED 0.00% 0.034 End-of-day quote.100.00%
LYNAS RARE EARTHS LIMITED 1.50% 6.75 End-of-day quote.69.60%
All news about LYNAS RARE EARTHS LIMITED
09/12Australian shares rise on Sydney Airport Holdings, energy stocks boost
RE
08/31LYNAS RARE EARTHS : August 31 Notice of Change of Interests of Substantial Holder
PU
08/27LYNAS RARE EARTHS : Full year 2021 results
AQ
08/27Australia shares end flat, post second straight weekly loss
RE
08/27LYNAS RARE EARTHS : Appendix 4E and FY21 Annual Financial Report
PU
08/27LYNAS RARE EARTHS : Releases FY21 Results
PU
08/27LYNAS RARE EARTHS : FY21 Investor Presentation
PU
08/26Wesfarmers, Lynas drag Australian shares lower; banks, tech stocks drop
RE
08/26LYNAS RARE EARTHS : Swings to After-Tax Net Profit in FY21
MT
08/26Lynas Says Rare Earths Demand Rising -- Commodity Comment
DJ
More news
Analyst Recommendations on LYNAS RARE EARTHS LIMITED
More recommendations
Financials
Sales 2022 708 M 513 M 513 M
Net income 2022 346 M 251 M 251 M
Net cash 2022 255 M 185 M 185 M
P/E ratio 2022 19,2x
Yield 2022 -
Capitalization 6 091 M 4 402 M 4 414 M
EV / Sales 2022 8,25x
EV / Sales 2023 6,66x
Nbr of Employees -
Free-Float 97,1%
Chart LYNAS RARE EARTHS LIMITED
Duration : Period :
Lynas Rare Earths Limited Technical Analysis Chart | LYC | AU000000LYC6 | MarketScreener
Technical analysis trends LYNAS RARE EARTHS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Last Close Price 6,75 AUD
Average target price 6,82 AUD
Spread / Average Target 1,04%
EPS Revisions
Managers and Directors
Amanda M. Lacaze Chief Executive Officer, Executive Director & MD
Gaudenz Sturzenegger Chief Financial Officer
Kathleen Marie Conlon Non-Executive Chairman
Philippe G. Etienne Independent Non-Executive Director
John Scott Humphrey Independent Non-Executive Director