LYNAS RARE EARTHS LIMITED (LYC)
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LYC - LYNAS RARE EARTHS LIMITED

FNArena Sector : Rare Earth Minerals
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.44
Index: 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

$6.88

21 Jan
2025

-0.020

OPEN

$7.04

-0.29%

HIGH

$7.07

1,907,855

LOW

$6.82

TARGET
$6.892 0.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ARU . ASM . BRE . HAS . LIN . NTU . PEK . SVM . VHM . VML .
FNARENA'S MARKET CONSENSUS FORECASTS
LYC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 9.0 11.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 73.5% 21.7% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 61.6 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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx9.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx463.3 M
Book Value Per Share xxxxxxxxxxxxxxx239.9
Net Operating Cash Flow xxxxxxxxxxxxxxx68.7 M
Net Profit Margin xxxxxxxxxxxxxxx18.24 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx3.84 %
Return on Invested Capital xxxxxxxxxxxxxxx3.57 %
Return on Assets xxxxxxxxxxxxxxx3.11 %
Return on Equity xxxxxxxxxxxxxxx3.84 %
Return on Total Capital xxxxxxxxxxxxxxx2.63 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-510.6 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx33 M
Long Term Debt xxxxxxxxxxxxxxx150 M
Total Debt xxxxxxxxxxxxxxx184 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx524 M
Price To Book Value xxxxxxxxxxxxxxx2.47

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx579.3 M
Capex % of Sales xxxxxxxxxxxxxxx125.05 %
Cost of Goods Sold xxxxxxxxxxxxxxx345 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx55 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

0.0

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

20/01/2025

5

Underweight

$5.70

-17.15%

Impurities at the Kalgoorlie mixed rare earths carbonate (MREC) facility led to lower-than-expected production for Lynas Rare Earths in the December quarter, explains Morgan Stanley. The company has identified technical solutions to address these issues.

Management anticipates challenging conditions in the rare earths market will persist into the March quarter due to subdued Chinese demand and extended Lunar New Year holidays.

The Underweight rating and $5.70 target are maintained. The industry view remains Attractive.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 25.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Goldman Sachs

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

04/11/2024

3

Downgrade to Hold from Buy

$7.50

9.01%

Lynas Rare Earths' September quarter results show NdPr/REO production of 1.67kt/3.6kt, respectively, which are aligned with forecasts, but sales lagged due to a weaker product mix, Canaccord Genuity highlights.

Revenue reached $128m, below consensus due to slower Kalgoorlie ramp-up and capex impacts from the Mt Weld expansion.

Despite a recent 20% increase in NdPr prices, Canaccord Genuity notes Lynas continues to match production to demand, moderating Kalgoorlie's ramp to complete the expansion by mid-2025. 

Target price lifts to $7.50 from $7.40. The stock is downgraded to Hold from Buy on valuation grounds.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 21.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 45.00 cents.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

1
Australian Broker Call *Extra* Edition – Jan 20, 2025

Jan 20 2025 - Daily Market Reports
2
Next Week At A Glance – 20-24 Jan 2025

Jan 17 2025 - Weekly Reports
3
Rudi’s View: Best Buys & Convictions For 2025

Jan 16 2025 - Rudi's View
4
Rudi’s View: Final Best Buys & Conviction Ideas

Dec 23 2024 - Rudi's View
5
Rudi’s View: Banks, WiseTech, Redox & Integral Diagnostics

Dec 19 2024 - Rudi's View

Latest Rare Earth Minerals News

1
Lynas Rare Earths: High Chance Of Upside

May 23 2023 - Technicals
2
Rare Earth Elements: A Critical Challenge

May 03 2023 - Commodities
3
Security Blanket For Lynas

Nov 02 2022 - Australia
4
Consolidation Over For Lynas Rare Earths

Nov 16 2021 - Technicals
5
RESEARCH: Greenland Minerals, Major Capital Cost Reductions

Aug 05 2019 - FYI
6
Trade War Will Hasten Bull Market For Rare Earths

May 27 2019 - Commodities
7
CORRECTION: Trade Impasse Threatens US Lithium, Rare Earth Imports

May 24 2019 - Commodities
8
RESEARCH: Greenland Minerals Lowering Costs At Kvanefjeld

Feb 05 2019 - FYI
9
RESEARCH Greenland Minerals: A Rare Opportunity In Rare Earths

Sep 20 2018 - FYI
10
Rudi’s View: Lynas, Noni B And Citadel Group

Sep 13 2018 - Rudi's View