Lynas Rare Earths stock jumps 10% — what’s driving ASX:LYC after earnings
Lynas Rare Earths shares jumped 10.1% to A$18.98 after reporting a half-year net profit of A$80.2 million, below consensus estimates. The company cited power failures at its Kalgoorlie plant that hit output and raised costs. Revenue reached A$413.7 million, with rare earth oxide production at 6,375 tonnes. Brokers raised target prices but kept Sell ratings, citing valuation concerns and NdPr price volatility.
