LYNAS RARE EARTHS LIMITED (LYC)
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LYC

LYC - LYNAS RARE EARTHS LIMITED

FNArena Sector : Rare Earth Minerals
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.86
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Lynas is the world's largest independent rare-earths mining company with operations in Western Australia and Malaysia. Founded as a gold company in 1983, it listed in 1986. It sold off its gold division in 2001.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.40

27 Aug
2026

0.460

OPEN

$15.91

2.89%

HIGH

$16.53

3,511,875

LOW

$15.74

TARGET
$16.95 3.4% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ARU . ASM . BRE . HAS . LIN . MEI . MTM . NTU . SGQ . SVM . VHM . VML . VMM .
FNARENA'S MARKET CONSENSUS FORECASTS
LYC: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 22.2 58.2 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 27.7 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
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Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx22.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx977.9 M
Book Value Per Share xxxxxxxxxxxxxxx346.8
Net Operating Cash Flow xxxxxxxxxxxxxxx346.2 M
Net Profit Margin xxxxxxxxxxxxxxx22.74 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.61 %
Return on Invested Capital xxxxxxxxxxxxxxx7.04 %
Return on Assets xxxxxxxxxxxxxxx6.11 %
Return on Equity xxxxxxxxxxxxxxx7.61 %
Return on Total Capital xxxxxxxxxxxxxxx7.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx167.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx33 M
Long Term Debt xxxxxxxxxxxxxxx306 M
Total Debt xxxxxxxxxxxxxxx338 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,209 M
Price To Book Value xxxxxxxxxxxxxxx5.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx178.3 M
Capex % of Sales xxxxxxxxxxxxxxx18.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx637 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx100 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.1

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Citi

23/07/2026

5

Sell

$9.50

-42.07%

Lynas Rare Earths' June quarter production shortfall was driven by transition-zone ore at Mt Weld rather than processing constraints, Citi observes.

Management will make operational adjustments rather than additional capital expenditure to address the issue.

Record average selling prices and stronger-than-expected dysprosium and terbium production reflected renewed Chinese export controls, the analysts explain.

Citi believes future heavy rare earth production growth will now depend on ore grades rather than processing capacity.

Higher capital expenditure of US$294m reflects investment in non-China supply chains and tighter purity specifications, weighing on near-term free cash flow.

Sell. Target $9.50.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

30/07/2026

1

Buy

$21.00

28.05%

Canaccord Genuity maintains a Buy rating for Lynas Rare Earths with its target price lowered to $21.00 from $22.00 following June quarter production of 1.9kt NdPr and 3.5kt TREO.

Softer quarterly output stemmed from ore feed variability and temporary concentrate grade impacts from newly installed permanent crushers, though stronger realised pricing of $98/kg and disciplined capital expenditure lifted closing cash reserves to $1.21bn.

Capital expenditure for expanding heavy rare earth separation capacity increased to $294m from $180m, targeting operational readiness by the second half of 2027.

The company also firmed up a magnet manufacturing partnership with JS Link via a $50m equity investment securing long-term oxide supply through 2038.

To account for operational grade adjustments at Mt Weld and revised throughput trajectories, the analyst lowers FY26 and FY27 production estimates, considering the -30% pull-back in share price since April 2026 an attractive entry point supported by floor price arrangements and stable benchmark pricing.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

1
FNArena Corporate Results Monitor – 27-08-2026

Aug 27 2026 - Australia
2
Rudi’s View: Upside Risk In Crowded Shorts

Aug 12 2026 - Rudi's View
3
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Jul 30, 2026

Jul 30 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jul 27, 2026

Jul 27 2026 - Daily Market Reports

Latest Rare Earth Minerals News

1
Momentum Building For Brazilian Rare Earths

May 19 2026 - Technicals
2
Fresh Momentum For Arafura Rare Earths

Apr 28 2026 - Technicals
3
The Critical State Of Critical Minerals

Apr 07 2026 - Feature Stories
4
Lynas Ready To Rock ‘n’ Roll For Longer

Mar 17 2026 - Technicals
5
Lynas’ Valuation Key Point Of Contention

Jul 30 2025 - Australia
6
Lynas Rare Earths Shares Bounce Off Support

May 27 2025 - Technicals
7
Lynas Rare Earths: High Chance Of Upside

May 23 2023 - Technicals
8
Rare Earth Elements: A Critical Challenge

May 03 2023 - Commodities
9
Security Blanket For Lynas

Nov 02 2022 - Australia
10
Consolidation Over For Lynas Rare Earths

Nov 16 2021 - Technicals