Day: 23 March 2022

Fortunately for growth investors, there are plenty of shares on the Australian share market with strong long term growth potential.

Two such shares are named below. Here’s why analysts are positive on them:

NEXTDC Ltd (ASX: NXT)

The first growth share that could be a buy is NEXTDC. It is a leading data centre operator which appears well-placed to benefit from the structural shift to the cloud. Particularly given its world class network of centres and expansion into edge centres (regional data centres) and the Asia market. The latter has seen the company open up offices in Singapore and Tokyo. These markets could provide NEXTDC with a long growth runway.

Citi is a fan and currently has a buy rating and $14.55 price target on NEXTDC’s shares.

Xero Limited (ASX: XRO)

Another ASX growth to look at is this cloud-based accounting solution provider to small and medium sized businesses. Xero has been growing at a quick rate in recent years and has continued this trend in FY 2022. During the first half, it reported a 23% increase in subscribers to 3 million and a 29% lift in annualised monthly recurring revenue (AMRR) to NZ$1,132 million. Positively, Xero’s subscriber numbers are still well short of its total addressable market of 45 million. This and its plan to monetise its growing user base give it a very long growth runway.

Goldman Sachs is bullish on Xero. Its analysts currently have a buy rating and $135.00 price target on its shares.

The post Analysts name 2 ASX growth shares to buy appeared first on The Motley Fool Australia.

More reading

• Is the Xero (ASX:XRO) share price on the way back up to its January highs?
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• Brokers name 2 excellent ASX shares to buy and hold

Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Xero. The Motley Fool Australia owns and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pilbara Minerals Ltd (ASX: PLS) share price increased by almost 4% today. The gain means that shares in the lithium miner have gone up by more than 20% since 15 March 2022.

The Pilbara Minerals share price has seen a lot of volatility since the start of 2022. It’s only down by 12% in the 2022 calendar year right now. However, it was down 33% from the 2022 high in January to the mid-March low.

While Tesla Inc (NASDAQ: TSLA) and Pilbara Minerals are different businesses, it may be worth noting the electric vehicle maker has also seen a very sharp recovery of its share price in the last week or so. Since 14 March 2022, the Tesla share price has climbed by around 30%.

What’s going on with the Pilbara Minerals share price?

There hasn’t been any official news out of the company since it released its FY22 half-year result a month ago.

However, lithium prices have been climbing this year.

Pilbara Minerals said that since the end of its half-year, pricing has continued to increase, with price reporting agencies indicating spot spodumene concentrate (lithium) prices in the range of US$3,750 to US$4,500 per dry metric tonne.

In the half-year period, Pilbara Minerals achieved an average selling price of around US$1,250 per dry metric tonne, so there has been a substantial increase.

The broker Macquarie thinks there’s more upside to the Pilbara Minerals share price, with a price target of $3.50 and a buy rating. That implies an upside of more than 10%. Macquarie thought the impending loss of Pilbara Minerals CEO Ken Brinsden was a negative, but the high lithium price is helpful to the thesis.

The post Full charge ahead: The Pilbara Minerals (ASX:PLS) share price lifts another 4% today appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Elon Musk wants Tesla to be much, much bigger
• Why Tesla shares are up ahead of ‘Delivery day’
• The Pilbara Minerals (ASX:PLS) share price has leapt 12% in 4 days. What’s happening?
• These ASX 200 shares are topping the volume charts on Friday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price finished in the green today.

ANZ shares climbed 0.76% on Wednesday, closing at at $27.88. The S&P/ASX 200 Financials Index (ASX: XFJ) also finished ahead today, up 0.99%.

Let’s take a look at what news impacted ANZ on Wednesday.

Buyback bonanza

ANZ could be in for a massive buyback. Morgan Stanley predicts ANZ is among banks who may reward shareholders with more buybacks in coming months.

Analysts said:

We expect ANZ and NAB to announce new buybacks of $1bn and $2bn, respectively, at their first-half results in May.

ANZ has bought back $1.46 billion shares so far, the analysts said.

In other news, ANZ has just announced the launch of a new digital offering, ANZ Plus. The service is designed to help customers manage spending and achieve financial goals. Customers receive alerts on their spending and when they get paid.

Commenting on the launch, ANZ digital and Australia transformation executive Maile Carnegie said:

We have made significant progress on building the underlying platform in 2021 and it will soon be ready for our customers, which is very exciting. ANZ Plus will start with savings and transaction products and we will add to that progressively.

The bank described ANZ Plus as a “significant change” that will be available from early 2022.

The big banks all had a stellar day today. The National Australia Bank Ltd (ASX: NAB) climbed 1.57%, Westpac Banking Corp (ASX: WBC) jumped 0.76%, while Commonwealth Bank of Australia (ASX: CBA) gained 1.3% and Macquarie Group Ltd (ASX: MQG) closed 1.25% ahead.

ANZ on the ASX snapshot

The ANZ share price has shed 0.43% in the past 12 months but in the past week alone, it has jumped 4.46%.

In comparison, the benchmark financials index has leapt 12% in the past 12 months, gaining 3.52% in a week.

ANZ has a market capitalisation of about $78.2 billion based on its current share price.

The post Own ANZ shares? Here’s why today was a big day for the bank appeared first on The Motley Fool Australia.

More reading

• NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
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• 5 things to watch on the ASX 200 on Wednesday

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Uniti Group Ltd (ASX: UWL) share price surged to an all-time high before the company’s shares went into a trading halt late Wednesday afternoon.

Shares in the fibre broadband company rallied 10.7% to $4.67. This made it the top S&P/ASX 200 Index (ASX: XJO) performer on Wednesday.

In case you’re wondering, the Imugene Limited (ASX: IMU) share price and the Pointsbet Holdings Ltd (ASX: PBH) share price took the second and third spots, respectively.

Let’s check what happened with Uniti today.

New Uniti bid just about confirmed

The big run in the Uniti share price comes on the back of rumours that Macquarie Group Ltd (ASX: MQG) has made a higher bid for the telecommunications company.

Uniti was compelled to ask for a trading halt an hour before market close to address the media speculation. The company’s shares are expected to start trading again this Friday after management has time to provide further details.

The company didn’t say anything more, which is not unusual given it has been tight-lipped about takeover approaches.

Macquarie’s $3.6 billion bid for Uniti

But the trading halt has prompted some market watchers to see it as confirmation that Macquarie has lobbed a bid.

The Australian Financial Review certainly thinks so. It said Macquarie Asset Management and PSP Investments have made a $5 a share bid for Uniti. The offer values Uniti at around $3.6 billion in total.

The article didn’t cite any sources but said the pair have given the company a non-binding indicative bid. The proposal is similar in structure to the one offered by New Zealand fund manager HRL Morrison & Co.

As the Motley Fool has previously reported, Uniti has granted Morrison & Co exclusive access to undertake due diligence to support its $4.50 cash bid.

Awaiting more details on the Macquarie and PSP bid

This exclusive agreement includes a $5 million break fee that is payable to Morrison & Co. But it may have a fiduciary exemption that could allow Uniti to entertain a higher credible bid without penalty.

The Macquarie party would almost certainly fit the bill. Macquarie Asset Management acquired fellow telecommunications company Vocus Group in June 2021.

PSP is one of Canada’s largest pension funds with around $200 billion in assets, according to the AFR. It is also no stranger to Australia as it has made significant investments here.

Competitive auction to acquire Uniti

The question for investors is whether a third bidder could emerge. Regardless, Uniti’s board will be under pressure to run a competitive auction.

These are happy days for Uniti shareholders. But we are unlikely to get more details from management till late tonight or, more likely, tomorrow.

The post Uniti (ASX: UWL) share price surges 11% to record high as Macquarie bid appears confirmed appeared first on The Motley Fool Australia.

More reading

• NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Why investing in shares still offers the ‘best return potential’ in 2022: expert
• ASX 200 (ASX:XJO) midday update: Block and Zip jump, Fisher & Paykel Healthcare sinks
• Uniti (ASX:UWL) share price jumps amid rumoured Macquarie approach

Motley Fool contributor Brendon Lau owns Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Macquarie Group Limited, Pointsbet Holdings Ltd, and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Northern Star Resources Ltd (ASX: NST) share price was slipping today, down 1.98% in late afternoon trade.

The S&P/ASX 200 Index (ASX: XJO) gold miner closed yesterday at $10.60 and was trading at $10.39 per share at the close today.

Despite today’s slide, the Northern Star share price remains up 10.5% in 2022.

Among its tailwinds, the miner has been the beneficiary of rising bullion prices.

Investors faced with uncertainty over the pace of inflation and even great geopolitical uncertainty over Russia’s brazen invasion of Ukraine have turned to gold as a haven asset.

On 1 January, an ounce of bullion was worth US$1,829. Today that same ounce is worth US$1,924, a gain of 5.2%.

That’s the past few months’ action.

Now what?

What’s ahead for the Northern Star share price?

There are numerous factors that determine a company’s share price.

For the Northern Star share price, those include (but are not limited to) the quality of its assets, the quality of its management, any new gold strikes it may hit, as well broader investor sentiment based on global macroeconomic and geopolitical conditions.

Atop those, the market price of the gold the miner digs from the ground will undoubtedly have an impact on the Northern Star share price.

So, what’s the outlook for bullion prices?

For that answer we turn to Jordan Elise, manager of listed products and investment research at the Perth Mint.

Speaking to Live Wire, Elise said he believed gold prices were set to march higher in 2022.

Elise admitted that not everyone agreed, with some analysts saying the yellow metal’s “inability to hold onto the US$2,000 per ounce level” indicated the gold market could see a repeat of the price crash that occurred in 2011.

But Elise said the current conditions in global gold markets were quite different.

“Gold looks to be in a far healthier position relative to 2011,” he said. “Sentiment is far more subdued, while it is coming off a 10-year period of underperformance relative to risk assets, rather than the opposite.”

Elise continued:

Investor allocations are also more modest, while gold is not overbought today, whereas it was in 2011.

Finally, the yield environment, valuations in financial markets, and inflationary dynamics are all more supportive for the precious metal today, as is silver’s price, which remains cheap on a relative basis

“Combined,” Elise concluded, “these factors suggest gold’s bull market run could well continue.”

If gold prices do continue to run higher, it will certainly offer a healthy tailwind for the Northern Star share price.

Northern Star snapshot

Shares are down 37% from their 6 November 2020 all-time highs. But long-term shareholders will have little to complain about, with the Northern Star share price up 155% over the past 5 years.

The miner also pays a dividend yield of 1.9%, fully franked.

At the current Northern Star share price, the company’s market cap stands somewhat north of $12.1 billion.

The post What’s the outlook for the Northern Star (ASX:NST) share price? appeared first on The Motley Fool Australia.

More reading

• Could these ASX 200 gold shares be set for more gains in 2022?
• 5 things to watch on the ASX 200 on Wednesday
• Why Adairs, Betmakers, Magellan, and Northern Star shares are dropping
• 5 things to watch on the ASX 200 on Monday
• Is the party over for ASX 200 gold shares?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) recorded a rather healthy gain during this Wednesday’s trading session. The ASX 200 finished with a robust 0.5% gain at 7,377.9 points. But the Commonwealth Bank of Australia (ASX: CBA) share price fared even better.

CBA shares rose a pleasing 1.3% to finish the day at $107.45 each. As the ASX 200’s second-largest share by market capitalisation, this would be helping push the ASX 200 higher as well.

Today’s CBA share price move means that this ASX banking giant is now up 11.88% over the past month. It also means that CBA has closed on its highest share price we’ve seen in 2022 thus far.

Saying that, we did see CBA go higher last year. Back in November 2021, Commonwealth Bank shares hit an all-time high of $110.19. That’s a level we haven’t gotten close to since.

CBA share price rises amid share buyback rumours

But let’s talk about why CBA shares peaked at a 2022 closing high today. It might have something to do with rumours that the ASX 200 bank sector might be about to unleash some expanded share buybacks. According to reporting in the Australian Financial Review (AFR), broker Morgan Stanley has made a major ASX bank prediction. The broker has tipped that many of the ASX major banks, including CBA, might be poised to announce additional share buybacks. In CBA’s case, Morgan Stanley is estimating that it could use the proceeds from the recent Bank of Hangzhou sale to add $2 billion to its buyback program.

Share buybacks are a way a company can boost returns to shareholders without paying a dividend. Not that CBA isn’t still paying hefty dividends, mind you. It involves the company buying its own shares off of the market and effectively retiring them. This reduces the overall share count, which also means that the company’s earnings per share (EPS) and dividends can get split fewer ways. It also usually results in long-term share price appreciation. That’s because, under the laws of supply and demand, less supply equates to higher prices.

So it’s perhaps no wonder that ASX investors are getting excited about CBA shares today.

At today’s CBA share price, this ASX 200 banking share has a market capitalisation of $183 billion, with a dividend yield of 3.26%.

The post Why did the CBA share price just close at a new 2022 high? appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Austal Ltd (ASX: ASB) share price plunged today amid the company receiving some “disappointing” news.

Austal shares finished the day at $1.775 each, a fall of 11.25%. In contrast, the S&P/ASX 200 Index (ASX: XJO) finished 0.5% higher.

Let’s take a look at what impacted Austal’s performance today.

Key project collapses

Austal’s plan to build offshore patrol vessels [OPVs] for the Philippines Navy has fallen apart. Austal is a global shipbuilder and defence company with 7 shipyards in 5 countries, including the Philippines.

The Philippines Navy has decided to sole-source foreign-built vessels instead of Austal’s vessels. These were to have been acquired through a Government Memorandum of Understanding with the Commonwealth of Australia.

Commenting on the news, Austal CEO Paddy Gregg said:

It’s disappointing that after several years of working together with PN to develop an agreed specification and price for this project, at the final stages of negotiations PN elected to pursue an offshore build on different terms.

However, we remain very enthusiastic about the capabilities of our Cape platform for OPVs and look forward to discussing it with other potential buyers in future.

Austal now plans to work on securing orders for commercial ferries at its Philippines shipyard.

The company recently delivered the 14th guardian-class patrol boat to the Australian Department of Defence. This is the first of 9 navy ships scheduled for delivery to the federal government in 2022.

Austal share price snapshot

The Austal share price has dropped 19% in the past 12 months, shedding almost 14% in the past week alone.

In comparison, the benchmark ASX index has gained 9% in the past 12 months.

Austal has a market capitalisation of about $642 million based on its current share price.

The post No deal: Here’s why the Austal (ASX:ASB) share price sank 11% today appeared first on The Motley Fool Australia.

More reading

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Austal Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It’s been a relatively happy day for the All Ordinaries Index (ASX: XAO). As it currently stands, the All Ords has gained a healthy 0.58% at just over 7,650 points. But it’s been an even happier day for some All Ords shares. This Wednesday has seen several companies record new 52-week highs – a happy occasion for most investors involved.

So let’s take a look at who some of these lucky All Ordinaries shares are: 

3 ASX All Ordinaries shares hitting new 52-week highs today

Computershare Limited (ASX: CPU)

ASX All Ords tech stalwart Computershare is our first lucky company to have hit a new 52-week high today. The company has put on a strong 1.3% gain today and hit a new 52-week high of $24.20 a share earlier in the trading session. But even better for Computershare investors is that not onlyis this a new 52-week high, but also a new all-time high as well. Computershare is now up 18.4% in 2022 so far, as well as by 62.4% over the past 12 months. 

New Hope Corporation Limited (ASX: NHC)

Miner New Hope is our next All Ords share with some pleasing gains to report today. New Hope had another robust gain today, rising by 2.77% thus far at $3.30 a share. The company also went as high as $3.33 a share earlier this afternoon, which is the company’s new 52-week high watermark. Although not a new all-time high, New Hope shares have rocketed in recent months largely due to the soaring price of coal. The shares are up 42.3% in 2022 alone, and an incredible 144% over the past year.

Neometals Ltd (ASX: NMT)

Diversified miner Neometals is another All Ords share that had a spectacular day on the markets today. This lithium and green metals share is currently trading at $1.84, up 0.82%. However, it hit a new high of $1.88 a share earlier this afternoon. Like Computershare, this is also a new all-time high for the Neometals share price. Neometals shares are now up close to 10% year to date, but a far more impressive 380% over the past 12 months. 

The post 3 ASX All Ordinaries shares smashing 52-week highs on Wednesday appeared first on The Motley Fool Australia.

More reading

• Why Beach, BHP, New Hope, and ResApp shares are charging higher
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX big bank shares were finding good support today, especially after a leading broker suggested that some of them could be on the verge of launching more multibillion-dollar share buybacks.

The National Australia Bank Ltd (ASX: NAB) share price and Commonwealth Bank of Australia (ASX: CBA) share price gained in afternoon trade, closing the day 1.57% and 1.3% higher, respectively.

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price also finished in the green, up 0.76%.

In comparison, the S&P/ASX 200 Index (ASX: XJO) added 0.5% in Wednesday trade.

NAB, ANZ and CBA shares could get a buyback lift

The outperformance of the NAB, ANZ and CBA share prices may have something to do with Morgan Stanley’s latest note on the sector.

The broker reckons that ANZ and NAB could announce a new share buyback when they release their interim profit results. ANZ has the capacity to buy $1 billion worth of its shares, while NAB could purchase $2 billion.

Excess capital is a nice problem to have

“ANZ and NAB are close to finishing their respective A$1.5bn and A$2.5bn share buybacks, which were announced in 2021,” said Morgan Stanley.

“So far, ANZ has bought back ~A$1.46bn and NAB has bought back ~A$2.43bn.”

Asset sale to fund new buyback of CBA shares

Meanwhile, CBA could be poised to launch another share buyback as well. Australia’s largest bank completed a $6 billion off-market buyback in October last year.

It also announced a $2 billion on-market share buyback at its 1H FY22 results in February. This buyback should commence shortly.

“Beyond this, we don’t forecast any more buybacks, but management has stated that it will have ‘flexibility to consider further capital management initiatives,’” added Morgan Stanley.

“With this in mind, the proposed sale of a 10% stake in Bank of Hangzhou could support another ~A$2bn buyback.”

WBC is the outlier – but maybe not

If the prediction comes to pass, ASX big banks could repurchase around $15.8 billion of their shares in FY22. This could make the current financial year one of the biggest years for bank share buybacks.

Westpac Banking Corp (ASX: WBC) is the only one of the ASX big four that Morgan Stanley doesn’t think will launch a new buyback, not after it completed a $3.5 billion buyback just last month.

But the broker did acknowledge that capital releases from the sale of other non-core assets could change that view.

Why share buybacks matter to ASX investors

In case you are wondering why investors should care about such capital initiatives, share buybacks are generally earnings accretive for shareholders.

This is because the bank’s profits are shared over a smaller number of shares. All else being equal, the bank’s earnings per share (EPS) will increase due to the smaller pool of shares.

EPS drives valuations as price-earnings multiples are based on this metric. Also, dividend payout ratios are measured against EPS. Thus, if the EPS increases and the payout ratio is held constant, shareholders will receive a bigger dividend cheque.

The post NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Banking gains! NAB share price hits yet another 52-week high
• Why investing in shares still offers the ‘best return potential’ in 2022: expert
• ASX 200 (ASX:XJO) midday update: Block and Zip jump, Fisher & Paykel Healthcare sinks
• Here’s what $10,000 worth of Westpac (ASX:WBC) shares bought 10 years ago looks like today

Motley Fool contributor Brendon Lau owns Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank Limited, and Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Lynas Rare Earths Ltd (ASX: LYC) share price has been red hot this month despite closing lower today.

While it has been a bumpy ride over the course of the last 30 days, the rare earths producer’s shares are up 20%.

Nonetheless, the company’s shares took a breather on Wednesday to close 1.7% lower at $10.42 each.

What’s behind the rise of the Lynas share price?

Following the recent volatility in the Lynas share price, it appears investors are looking to cash in.

The company produced a solid performance for the first half of FY22, with double to triple-digit growth across key financial metrics.

Lynas produces Neodymium-Praseodymium (NdPr) which is a magnetic rare earth alloy used in many modern technologies.

The price of NdPr has mostly soared in the past year as Western countries try to limit China’s rare earths dominance.

Lynas is considered to be the world’s second-largest producer of NdPr, behind the Asian giant. The latter accounted for 60% of global production of rare earths last year.

Rare earths are a group of 17 metals that are critical to the manufacturing of many electronic products. These include mobile smartphones, electric vehicles, aircraft engines, wind turbines, and even military equipment.

However, with geopolitical tensions heating up between the West and Russia, the supply of rare earths could not be more important.

The United States recently warned China that it too could face hard-hitting sanctions if it decides to provide financial or military support to Russia. If this happens, demand will outstrip supply by a considerable amount which will lead to a surge in NdPr prices, among other commodities.

Lynas is seeking to disrupt China’s supply of rare earths and become a vital company for advanced Western economies.

Lynas share price snapshot

Over the past 12 months, the Lynas share price has rocketed almost 70% on the back of positive investor sentiment.

Although, since the start of the year, its shares have recorded wild swings of more than 20% in either direction.

The company’s shares are up less than 3% in 2022.

Much has been priced into the Lynas share price, with a price-to-earnings (P/E) ratio of a staggering 698.67.

On valuation grounds, the company commands a market capitalisation of roughly $9.4 billion.

The post Despite a lacklustre Wednesday, the Lynas (ASX:LYC) share price remains up 20% in a month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 mining shares having such a dire day?
• What’s the outlook for the Lynas (ASX:LYC) share price?
• Up 10% in one week, down 10% in the next. What’s going on with the Lynas (ASX:LYC) share price?
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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