0448 GMT - The market looks beyond Lynas's 3Q operational miss to its comments on pricing, which are "a sign that supply anxiety could result in LYC getting paid a non-China price" for new heavy rare earths products, says Barrenjoey analyst Daniel Morgan. He notes light rare earths neodymium and praseodymium account for more than 90% of company revenue, versus dysprosium and terbium at less than 5%. Still, the company appears to be arguing for a non-China price on its core products, too, says Morgan. "This is the crux of the investment dilemma for LYC," he says. "They have a strategic position in being the only non-China integrated rare earth producer but shareholders are not getting paid for that." Barrenjoey has an overweight rating and a target price of A$9.50 on Lynas, which is up 3.8% at A$8.605. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 28, 2025 00:48 ET (04:48 GMT)
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