Lynas shares slide 5.8% after Q4 FY 2024 update despite record $98.2/kg average selling price
AI Market Summary
Lynas reported a strong Q4 FY2024 revenue rebound driven by record average selling prices and higher receipts, but investors focused on weaker NdPr output and operational bottlenecks at Kalgoorlie. Despite a sharply stronger cash position, the stock fell ~5.8% versus a flat ASX 200, suggesting elevated expectations and near-term sensitivity to production mix and execution risks in capacity ramp-up.
Impact level
● Low
Affected assets
LYN/USDT+7.46%
AI Insight · LYN/USDTAI Insight
▼ Bearish
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Lynas Rare Earths reported Q4 FY 2024 gross sales revenue of $288.9 million, up 69.7% year on year, marking its highest quarterly revenue since Q4 FY 2022. The company said its average selling price hit a record $98.2 per kilogram, while NdPr output fell 11% to 1,857 tonnes as it works through bottlenecks at the Kalgoorlie facility. After the update, Lynas shares fell 5.8% on the day, underperforming the ASX 200, which was up 0.1% at the same time.
