|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.82 - 5.82|
|52 Week Range||5.82 - 5.82|
|Beta (5Y Monthly)||0.95|
|PE Ratio (TTM)||277.24|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Australia's Lynas Rare Earths posted a better-than-expected profit for the half year on Friday, helped by a rise in prices of rare earths it produces, particularly neodymium and praseodymium (NdPr). NdPr is one of the most important minerals that Lynas mines, and is used by car makers to make magnets for electric vehicles. Rare earths are also used in a wide range of everyday goods, including iPhones and hard disc drives in laptops.
The U.S. Department of Defense on Monday said it has awarded $30.4 million to Australia's Lynas Rare Earths Ltd to build a Texas facility to process specialized minerals used to make weapons, electronics and other goods. China is the world's largest producer of rare earth minerals and has threatened to stop their export to the United States, fueling a push inside the U.S. government to boost domestic production. The Pentagon's award will fund the construction of a facility to process so-called light rare earths, the most-common type of rare earths, commonly found in consumer goods such as cellular phones.
As a major supplier of food in Northern Ireland, Lynas Foodservice is sourcing more goods such as cheese from across the open border with EU-member Ireland to avoid the bureaucratic trade hurdles being erected with Britain after Brexit. The supplier of coffee chains, fast food giants and pubs has rerouted European stock via Dublin and sought out Irish or EU suppliers to ease the pressure once British goods require customs checks and paperwork to enter the province when the United Kingdom exits the European Union on Dec. 31. Managing Director Andrew Lynas told Reuters that he expects more administrative paperwork even if Britain secures a trade deal with the bloc, and has started to look for more products such as cheese and charcuterie from south of the Irish border.