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: 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

$7.19

24 Mar
2025

-0.200

OPEN

$7.32

-2.71%

HIGH

$7.34

2,429,406

LOW

$7.15

TARGET
$6.883 -4.3% downside
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 7.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 73.5% - 18.5% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 99.1 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

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

27/02/2025

3

Neutral

$7.10

-1.25%

Lynas Rare Earths' 1H25 results were weak, Macquarie reports, with earnings below consensus, partially attributable to FX losses.

Lynas stands out as a major rare earths producer outside China, the broker notes, capitalising on the improving NdPr market. Its strategic edge includes robust processing capabilities, significant heavy rare earth resources at Mt Weld, a long mine life, and plans to expand into North America.

The share price lag to NdPr prices is likely due to short-term market uncertainties and unclear production and growth plans, the broiker suggests. A new five-year plan update could positively shift market perception, in the broker's view.

Despite a constructive long-term output and price outlook, Macquarie sees a bumpy road ahead for Lynas in 2025. Neutral retained, target falls to $7.10 from $7.20.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.40 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 41.00 cents.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

05/03/2025

1

Buy

$7.50

4.31%

Lynas Rare Earths' 1H25 result missed Canaccord Genuity's forecasts with unadjusted EBITDA of $38m falling short of the $68m forecast.

The broker notes the result is backward-looking and has no impact on its investment case. The broker revised its NdPr pricing assumptions lower by an average -17% but this is offset by a 13% increase in production estimates.

Forecast FY25 EBITDA is lowered along with a significant downward revision in EPS forecast. Target price of $7.5 and Buy rating are retained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.00 cents.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

1
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 27-02-2025

Feb 27 2025 - Australia
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 24-01-25

Jan 24 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Jan 23, 2025

Jan 23 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jan 20, 2025

Jan 20 2025 - Daily Market Reports

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