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: 1.71
Index: ASX50 | 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

$18.70

25 Jun
2026

-0.640

OPEN

$19.46

-3.31%

HIGH

$19.46

2,996,157

LOW

$18.26

TARGET
$18.10 -3.2% downside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ARU . ASM . BRE . HAS . LIN . MEI . MTM . NTU . SGQ . SVM . VHM . VML .
FNARENA'S MARKET CONSENSUS FORECASTS
LYC: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 22.2 57.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 24.1 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
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Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx22.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx977.9 M
Book Value Per Share xxxxxxxxxxxxxxx346.8
Net Operating Cash Flow xxxxxxxxxxxxxxx346.2 M
Net Profit Margin xxxxxxxxxxxxxxx22.74 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx7.61 %
Return on Invested Capital xxxxxxxxxxxxxxx7.04 %
Return on Assets xxxxxxxxxxxxxxx6.11 %
Return on Equity xxxxxxxxxxxxxxx7.61 %
Return on Total Capital xxxxxxxxxxxxxxx7.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx167.9 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx33 M
Long Term Debt xxxxxxxxxxxxxxx306 M
Total Debt xxxxxxxxxxxxxxx338 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,209 M
Price To Book Value xxxxxxxxxxxxxxx5.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx178.3 M
Capex % of Sales xxxxxxxxxxxxxxx18.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx637 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx100 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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

22/04/2026

5

Sell

$14.00

-25.13%

Lynas Rare Earths has plenty of revenue growth to come despite a subdued March quarter, Ord Minnett contends.  The company believes it will take another 12 months to ramp up Mount Weld and Kalgoorlie before it can get a "clean run"on NdPr capacity of 10,500tpa.

While the company is the largest ex-China rare producer in a sector that is "hot", the broker suggests all of this and more is priced into the stock.

Emerging competitors may mean the scarcity premium the business enjoys will erode over the next couple of years.

Ord Minnett suspects the price is overdone, recommending speculative REO developers instead. Sell rating and $14 target maintained.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 23.70 cents.
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 63.30 cents.

Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Canaccord Genuity

23/04/2026

1

Buy

$22.00

17.65%

Canaccord Genuity maintains a Buy rating and $22.00 price target for Lynas Rare Earths following a softer March quarter production update.

The broker observes NdPr production missed expectations due to lower output from the Kalgoorlie facility during process improvements.

Higher average selling prices from an optimised product mix and rising Chinese prices helped offset the lower sales volumes.

FY26 earnings estimates are downgraded to reflect reduced near-term production and higher operating costs for fuel and acid.

Despite short-term operational challenges, the longer-term market outlook remains positive and firming up downstream magnet plans could provide a material valuation catalyst, the report suggests.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 29.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 93.00 cents.
Access Extra Coverage Research History >

LYC STOCK CHART

FNArena News on LYC

Latest Rare Earth Minerals News

1
Consolidation Over For Lynas Rare Earths

Nov 16 2021 - Technicals
2
RESEARCH: Greenland Minerals, Major Capital Cost Reductions

Aug 05 2019 - FYI
3
Trade War Will Hasten Bull Market For Rare Earths

May 27 2019 - Commodities
4
CORRECTION: Trade Impasse Threatens US Lithium, Rare Earth Imports

May 24 2019 - Commodities
5
RESEARCH: Greenland Minerals Lowering Costs At Kvanefjeld

Feb 05 2019 - FYI
6
RESEARCH Greenland Minerals: A Rare Opportunity In Rare Earths

Sep 20 2018 - FYI
7
Rudi’s View: Lynas, Noni B And Citadel Group

Sep 13 2018 - Rudi's View
8
Pilbara Minerals’ Rally Considered Excessive

Dec 21 2017 - Australia
9
Second Half Critical For Mineral Resources

Nov 02 2017 - Australia
10
Confidence Increases At Orocobre

Oct 30 2017 - Small Caps