Lynas Rare Earths (OTCMKTS:LYSDY) Shares Gap Up – Still a Buy?

Shares of Lynas Rare Earths Limited – Sponsored ADR (OTCMKTS:LYSDY) gapped up prior to trading on Wednesday . The stock had previously closed at $10.38, but opened at $11.08. Lynas Rare Earths shares last traded at $11.07, with a volume of 167,610 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYSDY. UBS Group upgraded shares of Lynas Rare Earths from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group raised Lynas Rare Earths from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Lynas Rare Earths Price Performance

The company has a current ratio of 2.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $9.37 and its 200-day simple moving average is $9.46.

About Lynas Rare Earths

Lynas Rare Earths Limited (OTCMKTS: LYSDY) is a leading global supplier of rare earth elements, headquartered in Perth, Australia. The company’s flagship operation is the Mount Weld mine in Western Australia, one of the world’s highest?grade rare earth deposits. Lynas extracts and concentrates rare earth ores, which serve as critical feedstock for the production of high-performance magnets, catalysts and other specialty applications used in automotive, electronics and renewable energy industries.

Beyond mining, Lynas operates a key processing facility at Kuantan in Malaysia, where it carries out cracking, leaching and separation of rare earth concentrate.