BUZZ-Australia's Lynas Rare Earths falls on HY profit miss

Reuters
26 Feb
BUZZ-Australia's Lynas Rare Earths falls on HY profit miss

** Shares of Lynas Rare Earths LYC.AX fall as much as 5.8% to A$6.565

** Stock among top losers in the ASX 200 benchmark index .AXJO, which is down 0.2%

** Rare earths producer posts HY net profit after tax of A$5.9 million ($3.74 million), missing Visible Alpha consensus estimate of A$36.2 million

** Cites weak prices for metals due to subdued demand from China, higher operating costs

** Market conditions remain unpredictable, and Lynas' success will depend on its continued ability to balance growth ambitions with disciplined financial management - Jefferies

** Stock has risen 4.2% this year, as of 0101 GMT

($1 = 1.5763 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10