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

$8.84

17 Apr
2025

0.480

OPEN

$8.59

5.74%

HIGH

$8.90

9,209,320

LOW

$8.55

TARGET
$7.008 -20.7% 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 6.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 73.5% - 25.7% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 131.6 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

-0.3

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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Bell Potter

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

08/04/2025

3

Downgrade to Hold from Buy

$7.80

-11.76%

Ord Minnett reckons China's move to restrict exports of seven rare earths could lift prices of heavy rare earth oxides, but this is uncertain in the absence of full details.

The broker lifted price forecast for Dy-Tb-Y by 2-4% for 2025-26, and cut NdPr price estimates in 2025.

The broker expects HREO producers to be the biggest beneficiaries, with Lynas Rare Earths expected to produce minor Dy+Tb by mid-year and its Texas plant aiming for HREO output by 2027.

Rating downgraded to Hold from Buy following share price gains.Target unchanged at $7.80.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.10 cents.
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 29.70 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

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

31/03/2025

1

Buy

$8.20

-7.24%

Canaccord Genuity has pushed the timing for NdPr deficits to 2026 on slower growth in EV sales. The broker expects some offset from a rise in rare earth demand for humanoid robotics, but not until the 2030s.

The broker cut forecasts for NdPr oxides until 2030, including -22% decline in FY25 and -23% in FY26, and also made significant cuts to forecasts for Dysprosium and Terbium throughout the forecast period.

Overall, the broker believes stronger pricing momentum is required to drive broader equity moves in the rare earths sector.

Target price for Lynas Rare Earths is lifted to $8.20 from $7.50 as the revised forecasts have limited impact on the company's near-term earnings estimates. Buy maintained.

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.

LYC STOCK CHART