http://www.theaustralian.com.au/business/breaking-news/lynas-gets-first-pay-cheque/story-e6frg90f-1226688764017
Patersons resources analyst Andrew Harrington said he was confident the company would soon start realising average market prices and that rare earths prices were recovering.
He attributed the poor share price to the fact that Lynas is heavily shorted, meaning a large large numbers of traders are invested in the stock falling.
That might have amplified to a lot of the negative publicity about the company about its risks, he said.
"I suspect that no matter what they do, until there's a substantial increase in the share price, which then forces the shorts to cover, there will always be this kind of selling pressure," he told AAP.
Patersons and analysts at JPMorgan Chase & Co have buy ratings on Lynas.
news from the papers
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$5.98 |
Change
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Mkt cap ! $5.589B | |||
| Open | High | Low | Value | Volume |
| $6.06 | $6.11 | $5.98 | $17.19M | 2.859M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 79108 | $5.98 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.02 | 17678 | 2 |
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