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    LYC   AU000000LYC6

LYNAS RARE EARTHS LIMITED

(LYC)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-09-23 am EDT
7.860 AUD   -2.96%
09/20Japan's JOGMEC, Sojitz invest $9 million in rare-earths miner Lynas
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09/12Lynas Rare Earths Experiences Water Supply Issues at Malaysian Facility
MT
08/25Australia shares climb as miners shine, focus on Fed chair's speech
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Australian shares slip on worries over Fed rate hikes, U.S.-China relations

08/03/2022 | 03:13am EDT

* Financials main laggards on Aussie bourse

* Gains in tech stocks limit some losses

* Lynas jumps 7% on Mt Weld expansion plan

Aug 3 (Reuters) - Australian shares closed lower on Wednesday, dragged down by heavyweight financial and resources stocks, after three U.S central bank officials reaffirmed the need to raise interest rates to curb inflation at the risk of slowing growth.

The S&P/ASX 200 ended 0.3% lower at 6,975, snapping a six-session winning streak, as investors weighed the potential fallout from U.S. House Speaker Nancy Pelosi's visit to Taiwan, which China furiously condemned.

"The market is caught in a pretty uncertain period now," said Mathan Somasundaram, chief executive officer at Deep Data Analytics.

"Fed officials have watered down the idea of slowing interest rate hikes in the future and falling global sentiment is also partly due to Pelosi's visit to Taiwan."

In Australia, financials weighed the most on the benchmark as they fell 1.4% in their worst session since July 15. The "big four" banks shed between 0.4% and 1.6%.

Energy stocks slipped 0.4% as oil prices eased ahead of a meeting of OPEC+ producers. Sector leaders Woodside Energy and Santos dropped 0.3% and 2.1%, respectively.

Technology stocks gained about 2.1%, with accounting software provider Xero and ASX-listed shares of Block Inc up about 3.6% and 5%, respectively.

"I would suggest the tech sector is taking cues from U.S. & China tech earnings results providing some confidence & relief in the sector," said Azeem Sheriff, a market analyst from CMC Markets.

Rare earths miner Lynas outperformed the benchmark index with a 7% jump after it unveiled plans to invest A$500 million to expand capacity at its Mt Weld mine.

Fund manager Pinnacle Investment Management Group jumped more than 12% in its best day since July 28, 2020 and topped the ASX 200 after posting robust annual results.

New Zealand's benchmark S&P/NZX 50 index closed 1.5% higher at 11,705. (Reporting by Archishma Iyer in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.02% 0.6527 Delayed Quote.-8.49%
BRITISH POUND / US DOLLAR (GBP/USD) 0.06% 1.0856 Delayed Quote.-16.77%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7353 Delayed Quote.-6.16%
EURO / US DOLLAR (EUR/USD) -1.51% 0.969 Delayed Quote.-13.47%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.26% 0.012308 Delayed Quote.-8.11%
LONDON BRENT OIL -3.99% 86.71 Delayed Quote.15.96%
LYNAS RARE EARTHS LIMITED -2.96% 7.86 Delayed Quote.-22.71%
MSCI TAIWAN (STRD) -1.58% 487.575 Real-time Quote.-33.25%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.5744 Delayed Quote.-14.48%
PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED -4.22% 8.85 Delayed Quote.-43.31%
S&P/ASX 200 -1.87% 6574.7 Real-time Quote.-11.69%
SANTOS LIMITED -4.26% 7.42 Delayed Quote.17.59%
WOODSIDE ENERGY GROUP LTD -2.03% 31.78 Delayed Quote.44.92%
WTI -5.01% 79.304 Delayed Quote.5.25%
XERO LIMITED -7.84% 76.53 Delayed Quote.-45.89%
All news about LYNAS RARE EARTHS LIMITED
09/20Japan's JOGMEC, Sojitz invest $9 million in rare-earths miner Lynas
RE
09/12Lynas Rare Earths Experiences Water Supply Issues at Malaysian Facility
MT
08/25Australia shares climb as miners shine, focus on Fed chair's speech
RE
08/25TRANSCRIPT : Lynas Rare Earths Limited, 2022 Earnings Call, Aug 26, 2022
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08/25Australia's Lynas posts record profit on solid rare earths demand
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08/25Lynas Rare Earths Limited Reports Earnings Results for the Full Year Ended June 30, 202..
CI
08/25Lynas Rare Earths Limited Reports Earnings Results for the Full Year Ended June 30, 202..
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08/24Ord Minnett rates LYC as Lighten
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08/16U.S. HITS THE EV ACCELERATOR TO CUT : Andy Home
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08/03Australian shares slip on worries over Fed rate hikes, U.S.-China relations
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More news
Financials
Sales 2023 1 050 M 687 M 687 M
Net income 2023 518 M 339 M 339 M
Net cash 2023 750 M 491 M 491 M
P/E ratio 2023 13,7x
Yield 2023 -
Capitalization 7 114 M 4 656 M 4 656 M
EV / Sales 2023 6,06x
EV / Sales 2024 4,53x
Nbr of Employees -
Free-Float 99,3%
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Technical analysis trends LYNAS RARE EARTHS LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 7,86 AUD
Average target price 10,17 AUD
Spread / Average Target 29,4%
EPS Revisions
Managers and Directors
Amanda M. Lacaze Chief Executive Officer, MD & Executive Director
Gaudenz Sturzenegger Chief Financial Officer
Kathleen Marie Conlon Non-Executive Chairman
Philippe G. Etienne Independent Non-Executive Director
John Scott Humphrey Independent Non-Executive Director
Sector and Competitors