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

$11.38

22 Oct
2026

-0.170

OPEN

$11.57

-1.47%

HIGH

$11.69

4,157,319

LOW

$11.25

TARGET
$15.63 37.3% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ARU . 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 48.8 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 22.0 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
Copyright © 2026 FactSet UK Limited. All rights reserved
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

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Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

05/10/2026

2

Upgrade to Accumulate from Lighten

$14.00

23.02%

Ord Minnett views Lynas Rare Earths' scrip acquisition of Meteoric Resources ((MEI)) as strategically attractive, adding long-term growth optionality through the Caldeira project in Brazil.

Caldeira hosts a 1.6bn tonne resource and could produce 3.9ktpa NdPr and 127tpa DyTb over 23 years.

The project is unlikely to produce before 2029, according to the analyst, and its fit with Lynas's existing pipeline remains unclear.

The Lynas target remains $14; rating upgraded to Accumulate from Lighten.

This is a summary of research released by Ord Minnett last Friday.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 53.80 cents.
Ord Minnett forecasts a full year FY28 dividend of 0.00 cents and EPS of 67.10 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

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

20/10/2026

1

Buy

$22.00

93.32%

Canaccord Genuity maintains a Buy rating for Lynas Rare Earths with its target price increased to $22.00 from $20.00 following updated modelling that integrates Meteoric Resources' Caldeira ionic clay project in Brazil.

The proposed acquisition offers an array of strategic operating benefits, providing a lower capital intensity and lower-cost feedstock option compared to hard rock expansion or external supply.

Integration of Caldeira increases total Measured & Indicated TREO Mineral Resources by approximately 79% and Ore Reserves by approximately 27% while providing higher heavy rare earth concentrations.

Updated production modelling supports an expanded separation capacity of 16ktpa from 2032 and indicates the transaction is net asset value accretive with a pro forma NAV of $16.9bn.

The analyst views the 50%-plus fall in the share price from April 2026 peaks as an attractive entry point supported by stable rare earth prices and upcoming heavy rare earth production.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

1
Rudi’s View: Quality At Home, Value Abroad

Oct 22 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Oct 20, 2026

Oct 20 2026 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 16-10-26

Oct 19 2026 - Weekly Reports
4
Rudi’s View: Stocks To Own & Best To Avoid

Oct 15 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 09-10-26

Oct 12 2026 - Weekly Reports

Latest Rare Earth Minerals News

1
Lynas Poised To Revisit Recent High

Sep 22 2026 - Technicals
2
Momentum Building For Brazilian Rare Earths

May 19 2026 - Technicals
3
Fresh Momentum For Arafura Rare Earths

Apr 28 2026 - Technicals
4
The Critical State Of Critical Minerals

Apr 07 2026 - Feature Stories
5
Lynas Ready To Rock ‘n’ Roll For Longer

Mar 17 2026 - Technicals
6
Lynas’ Valuation Key Point Of Contention

Jul 30 2025 - Australia
7
Lynas Rare Earths Shares Bounce Off Support

May 27 2025 - Technicals
8
Lynas Rare Earths: High Chance Of Upside

May 23 2023 - Technicals
9
Rare Earth Elements: A Critical Challenge

May 03 2023 - Commodities
10
Security Blanket For Lynas

Nov 02 2022 - Australia