Morgan Stanley upgrades Lynas Rare Earths (LYSCF) to a Buy
Lynas Rare Earths received a Buy rating and a A$17.55 price target from Morgan Stanley analyst Rahul Anand today.
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Anand covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, BHP Group Ltd, and South32. According to TipRanks, Anand has an average return of 13.3% and a 57.93% success rate on recommended stocks.
In addition to Morgan Stanley, Lynas Rare Earths also received a Buy from Macquarie’s Austin Yun in a report issued on January 14. However, today, Ord Minnett maintained a Sell rating on Lynas Rare Earths (Other OTC: LYSCF).
Based on Lynas Rare Earths ‘s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of A$302.2 million and a net profit of A$2.14 million. In comparison, last year the company earned a revenue of A$228.51 million and had a net profit of A$44.98 million
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYSCF in relation to earlier this year.
Read More on LYSCF:
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- Lynas Rare Earths initiated with an Outperform at William Blair
- Lynas CEO Amanda Lacaze to Retire After 12 Years as Board Begins Search for Successor
- Lynas Rare Earths Sets Date for December-Quarter Results and Investor Briefing
- Lynas Rare Earths Announces Director’s Share Sale to Meet Tax Liabilities
- Chinese rare-earth companies devise ways to dodge export restrictions, WSJ says
