J?P?Morgan has maintained an “overweight” listing on rare earths miner Lynas Corp with a 12-month price target of 65¢.
“Notwithstanding the risks around cash flow in the near term, our fundamental view on rare earths prices is unchanged,” the bank said.
“We see structural shortages of certain elements which will likely drive prices higher over the medium term.”
It said recent news from China had provided reasons for optimism with Baotou acquiring nine companies in recent weeks.
overweight call
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Last
$7.34 |
Change
-0.260(3.42%) |
Mkt cap ! $6.860B | |||
| Open | High | Low | Value | Volume |
| $7.55 | $7.56 | $7.30 | $32.37M | 4.384M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 84497 | $7.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.35 | 23514 | 2 |
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| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |