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The latest update is out from Lynas Rare Earths ( (AU:LYC) ).
Lynas Rare Earths Ltd has successfully completed its Share Purchase Plan (SPP), raising approximately $182 million, significantly exceeding its initial target of $75 million. The funds will support the company’s ‘Towards 2030′ growth strategy, enhancing Lynas’ balance sheet and financial flexibility to expand its resource scale, increase downstream capacity, and enter the non-China metal and magnet supply chain.
The most recent analyst rating on (AU:LYC) stock is a Hold with a A$13.50 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 leading company in the rare earths industry, primarily focused on the production of separated light and heavy rare earth oxides. It is uniquely positioned as the only commercial producer outside China, allowing it to capitalize on the rapidly evolving market dynamics.
Average Trading Volume: 6,115,920
Technical Sentiment Signal: Buy
Current Market Cap: A$15.18B
Learn more about LYC stock on TipRanks’ Stock Analysis page.