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Lynas Rare Earths ( (AU:LYC) ) has issued an update.
Lynas Rare Earths Ltd has announced significant power supply disruptions at its Kalgoorlie Rare Earths Processing Facility, leading to substantial production losses of Mixed Rare Earth Carbonate (MREC). This disruption is expected to impact the production of finished goods at Lynas’ Malaysian facility, as the shortfall in MREC feedstock cannot be compensated due to scheduled maintenance. Lynas is collaborating with the WA Government and Western Power to address the power issues and is also exploring off-grid power solutions to recover lost production within the financial year. Despite the challenges, Lynas aims to meet key customer needs with sufficient finished products.
The most recent analyst rating on (AU:LYC) stock is a Buy with a A$16.60 price target. To see the full list of analyst forecasts on Lynas Rare Earths stock, see the AU:LYC Stock Forecast page.
More about Lynas Rare Earths
Lynas Rare Earths Ltd is a company operating in the rare earths industry, primarily focused on the extraction and processing of rare earth elements. Its key products include Mixed Rare Earth Carbonate (MREC), and it plays a significant role in supplying rare earth materials to various industries.
YTD Price Performance: 128.62%
Average Trading Volume: 7,655,713
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$14.8B
Learn more about LYC stock on TipRanks’ Stock Analysis page.