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

$12.40

08 Oct
2026

-0.700

OPEN

$12.85

-5.34%

HIGH

$12.91

5,604,057

LOW

$12.40

TARGET
$16.325 31.7% 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 54.2 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 22.9 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

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

23/09/2026

3

Equal-weight

$15.45

24.60%

With oil prices back above US$100/bbl and the diesel terminal gate price at around $2.30/l, this impacts freight costs, most notably for bulk miners.

The analyst points out that Singapore 10ppm gasoil is a better indicator of Australian mining diesel costs than crude oil and is around 70% higher from its price in June since the start of the Middle East war.

Lynas Rare Earths is the least exposed with the diesel exposure lowered after the commissioning of the Mt Weld hybrid renewable power station, although it is exposed to higher sulphuric acid prices.

Target is $15.45. Equal-weight. Industry view: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of 51.30 cents.
Morgan Stanley forecasts a full year FY28 EPS of 71.30 cents.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

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

05/10/2026

1

Buy

$20.00

61.29%

Canaccord Genuity maintains a Buy rating for Lynas Rare Earths with an unchanged $20.00 target price following a binding agreement to acquire 100% of Meteoric Resources ((MEI)) via a scheme of arrangement.

The all-scrip transaction offers 0.0207 shares for each Meteoric Resources share, implying a consideration of $0.286 per share representing a 68.4% premium to the last closing price and an equity value of $968m.

The acquisition secures the Caldeira Project, a large-scale Brazilian ionic clay rare earth development underpinned by a 151m tonne ore reserve supporting a 23-year operation.

Canaccord views the transaction as an attractive outcome for both parties, providing a relatively low-cost pathway to expand the asset footprint of the business.

The analyst believes the deal strengthens strategic positioning by adding an integrated source of heavy rare earth feed capable of supplying 4k tonnes per annum of NdPr to support future downstream growth.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

1
Australian Broker Call *Extra* Edition – Oct 05, 2026

Oct 05 2026 - Daily Market Reports
2
Next Week At A Glance – 5-9 Oct 2026

Oct 02 2026 - Weekly Reports
3
Rudi’s View: Ampol, BlueScope, Evolution, Infratil, Ramelius & More

Sep 24 2026 - Rudi's View
4
Lynas Poised To Revisit Recent High

Sep 22 2026 - Technicals
5
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View

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