BUZZ-Australia's Lynas slides on Q4 rev below estimates, flags challenging market conditions

Reuters
17 Jan
BUZZ-Australia's Lynas slides on Q4 rev below estimates, flags challenging market conditions

** Shares of Lynas Rare Earths LYC.AX fall 5.3% to A$6.715, their lowest since Jan. 3

** Stock fell as much as 6.7% earlier in the day, their largest intraday pct drop since early March 2023

** Largest rare earth miner outside China posts Q4 sales revenue of A$141.2 mln ($87.67 mln) vs A$136.2 mln a year ago

** Revenue misses Visible Alpha consensus estimate of A$154 mln

** Co flags marketing conditions remained challenging despite slight improvement in neodymium and praseodymium market price

** More than 3.1 mln shares change hands vs 30-day avg volume of 2.6 mln shares

** Lynas up 4.6% YTD, including current session's moves

($1 = 1.6106 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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