2355 GMT - Lynas's 1H fiscal result appears to be a large miss versus market expectations, but it's essentially an accounting miss linked to forex translation and inventory accounting, Barrenjoey analysts say in a note. It "doesn't provide any change to the economic outlook for LYC," the analysts say. Lynas earlier reported Ebitda of A$38.1 million, around half the market forecast. Meantime, it appears Lynas is pivoting its Kalgoorlie plant to continuous production from batch a month or so earlier than the Barrenjoey analysts expected. "Might this be a positive sign of customer demand? Outlook commentary has shifted to a slightly more optimistic tone." Barrenjoey has an overweight rating and A$9.50 target. Lynas is down 4.9% at A$6.63. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 25, 2025 18:55 ET (23:55 GMT)
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