The All Ordinaries Index (ASX: XAO) has gained a respectable 8.0% over the past 12 months, with plenty of lifting help from this rocketing ASX All Ords rare earths stock.
The outperforming miner in question is Brazilian Rare Earths Ltd (ASX: BRE).
Brazilian Rare Earths shares are taking a tumble alongside most ASX miners today, with shares down a sharp 8.5% at $4.30 each.
Despite that retrace, shares in the ASX All Ords rare earths stock remain up an impressive 138.9% since this time last year.
Or enough to turn a $5,000 investment into $11,944.
The company has been benefiting from its own exploration and mining successes in Brazil, as well as the West’s push to secure reliable rare earths supplies outside of China, which remains the world’s dominant producer.
As you likely know, rare earths are critical in most modern technologies, including military defence equipment and machinery, smart phones, and wind turbines.
And despite the outsized one-year returns, the team at Argonaut expect more outperformance from Brazilian Rare Earths shares in the year ahead.
Here’s why.
ASX All Ords rare earths stock tipped for further outsized gains
Brazilian Rare Earths released its second quarter update on 29 January.
Among the highlights for the three months to 31 December, the ASX rare earths miner announced a JORC-Compliant Mineral Resource and Scoping Study for its 100%-owned Amargosa Bauxite-Gallium Project, located in Brazil.
The quarter also saw the miner enter into a long-term partnership with Carester, a rare earth processing company specialising in the design, commissioning and optimisation of rare earth separation facilities around the world.
Commenting on the quarterly update, Argonaut analyst George Ross said:
BRE reported Amargosa Bauxite Project scoping study outcomes for a 17-year, 5mtpa project, capable of average annual free-cashflow of US$84m at a US$71/t product price. The operation is expected to cost US$119m to first production and generates an NPV8 of US$630m. BRE intends to spin out the project into its own listed entity.
Following a recent A$120m capital raising, BRE retained A$162m in cash at the end of December. A strategic partnership with processor Carester inclusive of heavy rare earth element (REE) feedstock offtake will provide BRE with technical support for its planned downstream aspirations.
The broker has a speculative buy recommendation on the ASX All Ords rare earths stock and a $5.80 price target.
That represents a potential upside of just under 35% from current levels.
The post Up 139% in a year, why this buy rated ASX All Ords rare earths stock could keep racing higher appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Bernd Struben 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 Scott Phillips.