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The latest update is out from Lynas Rare Earths ( (AU:LYC) ).
Lynas Rare Earths has opened a Share Purchase Plan (SPP) for eligible shareholders in Australia and New Zealand, allowing them to purchase up to $30,000 of shares without transaction costs. This SPP, capped at $75 million, complements a recent $750 million institutional placement, with funds aimed at accelerating growth under the company’s Towards 2030 strategy. The strategy focuses on optimizing existing investments and expanding business operations, including increasing resource scale and downstream capacity.
The most recent analyst rating on (AU:LYC) stock is a Buy with a A$14.75 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 production and supply of rare earth materials, which are crucial for various high-tech applications. The company is strategically positioned to serve markets outside of China, particularly in the metal and magnet supply chain.
Average Trading Volume: 6,241,888
Technical Sentiment Signal: Buy
Current Market Cap: A$14.24B
See more data about LYC stock on TipRanks’ Stock Analysis page.