BUZZ-Australia's Lynas slides to 5-month low on quarterly output miss
S&P Global, Inc. SPGI | 0.00 |
** Shares of Lynas Rare Earths LYC.AX fall as much as 8.5% to A$14.6 in early trade, their lowest level since February 6
** Stock logs the largest intraday pct loss since mid-May, making it the worst performer on broader benchmark .AXJO
** World's largest rare earths producer outside China logs Q4 total rare earth oxide (REO) production of 3,481 metric tons vs Visible Alpha consensus estimate of 3,854 tons according to Jefferies
** Also reports sales revenue of A$288.9 million ($202.35 million) vs Visible Alpha estimate of A$359.8 million
** Jefferies attributes production miss to ore concentrate quality issues at co's Mt Weld facility, which warrants "further analysis"
** Brokerage adds underlying REE market remains strong, supporting strong margins over FY27
** Stock up 18.5% YTD, including the day's moves
($1 = 1.4278 Australian dollars)
