Harena Rare Earths Wins Buy Rating as Broker Sees Major Upside at Madagascar Project

The latest announcement is out from Citius Resources PLC ( (GB:HREE) ).

Harena Rare Earths has attracted a bullish initiation of research coverage from broker SP Angel, which has begun following the stock with a Buy recommendation and a 9.4p target price. The note underscores the scale of the company’s Ampasindava ionic clay rare earth project, which hosts a JORC resource of about 699Mt at 868ppm TREO and is positioned as a potential scalable ex-China source of key magnet rare earth oxides.

SP Angel’s analysis highlights that rare earth supply chains remain heavily dominated by China, framing Harena as a potential contributor to Western supply security as demand from electric vehicles, renewables and advanced manufacturing grows. The broker estimates Ampasindava’s post-tax NPV10 at roughly US$200m on base pricing, rising to US$510m on spot prices, and points to potential DFC funding discussions and a series of permitting, study and offtake milestones through 2027 as catalysts for re-rating a stock it says is trading at about 0.1x P/NAV.

Spark’s Take on GB:HREE Stock

According to Spark, TipRanks’ AI Analyst, GB:HREE is a Underperform.

Citius Resources PLC faces critical financial and technical challenges, with no revenue and poor market indicators dominating the outlook. While positive corporate events suggest potential upside, these factors are overshadowed by the company’s ongoing financial distress and negative technical trends.

To see Spark’s full report on GB:HREE stock, click here.

More about Citius Resources PLC

Harena Rare Earths Plc is a rare earths exploration and development company focused on the Ampasindava ionic clay rare earth project in Madagascar, in which it holds a 100% interest. The project is one of the largest ionic clay rare earth deposits outside China, containing high-value magnet metals such as neodymium, dysprosium and praseodymium for sustainable supply into energy transition, defence and robotics markets.

Average Trading Volume: 2,022,679

Technical Sentiment Signal: Buy

Current Market Cap: £27.34M

See more insights into HREE stock on TipRanks’ Stock Analysis page.