lynas big

Lynas Corporation

(LYC)

ASX

Recommendation:

High Risk Buy

Share Price:

AUD

Market Cap:

$

Lynas: Finding Stability

12 September 2022

LYC shares have had a volatile in 2022 after an amazing run in 2021 where the stock rose +155%. The volatile year also allows us to identify a support level that can create an attractive entry point over the last 6 months, we see ‘strong support’ at $8.40, while the stock struggles to hold above $9.98 which we see as being overbought. Lynas shares rebounded strongly from its July lows, helped by its strong full year result benefiting from doubling is price of rare earths it produces, and delivering a record $540.8m net profit after tax. Lynas has strong cash reserves to expand its growth investing addition $500m to expand its Mt Weld. Lynas being the largest producer of rare earths outside of China means they gained US department of defence deal of $120m and favourable financing to work with JARE Japan Australia Rare Earths.

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Recommendation:

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Share Price:

AUD

Market Cap:

$

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