LYC – Macquarie rates the stock as Outperform
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MORE LYNAS RARE EARTHS LIMITED CONTENT
Lynas Rare Earths has signed a US$120m contract with the US Department of Defense to construct a commercial heavy rare earths plant in Texas.
Macquarie considers this a positive step in advancing the business to incorporate heavy rare earths products in addition to the light rare earths products. The facility is expected to be in production in FY25. Outperform rating and $12.80 target maintained.
Sector: Materials.
Target price is $12.80.Current Price is $8.53. Difference: $4.27 – (brackets indicate current price is over target). If LYC meets the Macquarie target it will return approximately 33% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Technical, page-1622
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Last
$6.92 |
Change
-0.020(0.29%) |
Mkt cap ! $6.468B | |||
| Open | High | Low | Value | Volume |
| $6.95 | $6.97 | $6.87 | $16.72M | 2.418M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5820 | $6.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.93 | 15020 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |