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It’s been decades now since Telstra Corporation Ltd (ASX: TLS) first faced meaningful competition. It might seem absurd today, but Telstra used to be a government-owned company with a monopoly on telecommunications services in Australia.

But those days are long gone. Telstra now not only faces competition from old rival Optus, but also from a bevvy of other telco providers. These include ASX shares TPG Telecom Ltd (ASX: TPG) and Aussie Broadband Ltd (ASX: ABB).

Even so, Telstra remains the dominant telco in Australia with a formidable market share across both mobile and broadband products.

But perhaps Telstra will finally be nudged out of its top spot by its newest competitor.

According to reporting in the Australian Financial Review (AFR) this week, a new telco start-up is setting its sights on Telstra and the other major players in the Australian telecommunications market.

Telstra faces a new threat from telco start-up GigaComm

GigaComm was founded in Melbourne out of frustration over internet speeds that “just didn’t cut it”. That’s according to Gigacomm CEO and co-founder Sophearom En.

“We were getting 10 megabits per second … for $70 per month”, En told the AFR. “I have a background in telcos as both an investor and an operator and I just knew there had to be a better way… If you’re waiting minutes, or tens of minutes, for something to upload or download, that’s lost productivity time”.

Reportedly, GigaComm has just secured a $20.5 million capital raise, led by Palisade Impact and Endeavour Asset Management. This will help the start-up continue to build out its own infrastructure, which includes fibre optic cabling and fixed wireless technology.

The company offers plans that start at $79 per month with speeds of up to 200 megabits per second. That’s four times the average Australian download speed.

GigaComm is now present in 28 “metropolitan suburbs” across both Sydney and Melbourne.

The company will allocate the latest round of funding proceeds to further expansion in Sydney and Melbourne. As well as into the Brisbane and Canberra markets.

“We’re adding new suburbs and buildings every week. Our objective is to hit 1 million premises in the next few years,” said En.

It will be interesting to see if GigaComm can indeed build a significant presence in what is becoming a rather crowded field. No doubt Telstra is watching these developments closely.

The post ‘Just didn’t cut it’: Look out Telstra, a new high-speed start-up is coming for you! appeared first on The Motley Fool Australia.

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More reading

• 2 ASX dividend shares that brokers are tipping as buys right now
• Why these top brokers are forecasting high-speed gains for the Telstra share price
• Guess which ASX 200 company is about to see $7 billion of shares released from escrow
• Down 47% in 2 months, is the Aussie Broadband share price an opportunity calling?
• Here are the 3 most heavily traded ASX 200 shares on Friday

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband Limited. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Aussie Broadband Limited and TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Northern Star Resources Ltd (ASX: NST) share price is yet again heading south today despite no company announcements.

At the time of writing, the gold miner’s shares are backtracking 1.47% to $7.98. This means that its shares have fallen 7% so far this week.

In comparison, shares in Newcrest Mining Ltd (ASX: NCM) have shed almost 6% over the same timeframe.

The Evolution Mining Ltd (ASX: EVN) share price is suffering the biggest fall, down more than 8% this week.

What’s happening with Northern Star?

The price of gold appears to be on the way to its second consecutive weekly loss, which could be causing investors to offload the Northern Star share price.

According to Trading Economics, the price of gold slid towards $1,830 an ounce on Thursday, erasing gains from the previous session.

At the time of writing, the yellow metal is fetching US$1,832 per ounce.

In addition, the S&P/ASX 300 Metals and Mining Industry (ASX: XMM) has tumbled this week by more than 5%. The sector contains the top 300 ASX companies that are involved with gold, steel, and precious metals.

Another factor that could be playing a significant hand against Northern Star shares is further sanctions on Russia.

In particular, gold could be targeted by the European Union which may restrict Russian access to the commodity.

While it’s not exactly clear what the sanctions will involve, they may relate to banning gold imports and/or exports. If so, this could affect the country’s ability to tap into its assets held overseas to pay off its debts.

Northern Star share price review

A rout on the ASX since the start of May has led the Northern Star share price to tumble almost 19% for the period.

When looking at this year to date, its shares are down around 15%. They have also fallen around 23% over the past 12 months.

Northern Star commands a market capitalisation of approximately $9.44 billion.

The post The Northern Star share price has lost 7% so far this week. What’s happening? appeared first on The Motley Fool Australia.

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More reading

• Stagflation and gold: Could it be an ideal match for ASX 200 gold miners?
• 5 things to watch on the ASX 200 on Wednesday
• Broker says the Northern Star share price weakness could be a golden opportunity
• 5 things to watch on the ASX 200 on Monday
• Here’s why the Northern Star share price is smashing the ASX 200 on Friday

Motley Fool contributor Aaron Teboneras has positions in Northern Star Resources Limited. 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.

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The Magellan Financial Group Ltd (ASX: MFG) share price has been one of the worst performers in the S&P/ASX 200 Index (ASX: XJO) over the past year. It has dropped over 70%.

There have been a few different negative catalysts for the business.

But could the fund manager actually be a strong turnaround idea? We’ll have a look at what some leading experts believe.

What has caused the negative sentiment?

Poor investment returns of its global shares strategies led to the loss of a key institutional client. Billions of dollars of funds under management (FUM) have left through the doors of the business. The level of FUM is a key influence on revenue, profit and dividends for Magellan. FUM changes can also impact the Magellan share price.

At 31 May 2022, the Magellan Global Fund (Open Class) (Managed Fund) (ASX: MGOC) only registered an average annual return per annum of 4.9% over the prior three years, underperforming its index benchmark by an average of 6.5% per annum. It’s showing underperformance over the prior year, five years and ten years as well. This fund accounted for $10 billion of Magellan’s FUM.

On 30 November 2021, it had $116.4 billion of FUM. This had reduced to $65 billion at 31 May 2022.

Magellan co-founder Hamish Douglass, who was also one of the leaders of the investment team and a key decision-maker, stepped back from operations due to mental health reasons. His exit was seen as a negative for the business. However, he will resume work in a consultancy role on 1 October 2022.

As a fund manager, the decline in global share market valuations also pulls down on Magellan’s FUM because the underlying portfolios would drop in value as well. At 31 May 2022, the Magellan Global Fund open class units had seen a 5.5% decline in investment performance.

Is the Magellan share price an opportunity?

The broker Morgan Stanley thinks there’s more declines to come. It has a price target of $11, which is a reduction of around 15%. It thinks that $2 billion flowed out last month and that billions more may leave the business in June. The Morgan Stanley rating is underweight which is similar to a sell rating.

UBS also rates the Magellan share price as a sell, with a price target of $13.50. This broker is concerned that the infrastructure investment segment of Magellan’s fund management business could see outflows as well. 

One of the most positive price targets is from Credit Suisse, with the target being $14.40. That’s a possible rise of over 10%. However, it’s only neutral on the business. 

Valuation

UBS is expecting a large decline in profit in FY23 from Magellan. Using UBS’ earnings estimates, Magellan is valued at 9 times FY23’s estimated earnings. 

The post Down 70% in one year: Is the Magellan share price a turnaround buy? appeared first on The Motley Fool Australia.

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More reading

• War on funds: What’s going on with Magellan shares and other ASX-listed fund managers?
• These were the worst performing ASX 200 shares last week
• Why Block, Evolution, Fortescue, and Magellan shares are sinking today
• Why Boss Energy, Crown, Magellan, and Shaver Shop shares are rising
• ASX 200 midday update: Magellan rebounds, Crown’s takeover boost

Motley Fool contributor Tristan Harrison has positions in Magellan Financial Group. 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.

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The Beach Energy Ltd (ASX: BPT) share price is having a poor day on Thursday.

In afternoon trade, the energy producer’s shares are down almost 3% to $1.62.

Why is the Beach share price falling?

The Beach share price and other energy shares have come under pressure today following a pullback in oil prices.

Oil prices tumbled during overnight trade and have continued their slide during Asian trade.

For example, according to CNBC, the WTI crude oil price is down a further 1.75% to US$104.33 a barrel and the Brent crude oil price is down a further 1.5% to US$110.04 a barrel.

This has been driven by concerns that aggressive U.S. interest rate hikes could trigger a recession and dent demand for fuel.

Not even news that U.S. President Joe Biden has called on Congress to pass a three-month suspension of the federal gasoline tax has been able to stop oil’s decline. President Biden’s plan aims to help combat record fuel prices and provide temporary cost of living relief for American consumers this summer.

Is this a buying opportunity?

According to analysts at Macquarie, it’s not quite time to push the buy button.

This morning, its analysts upgraded Beach Energy’s shares to a neutral rating from underperform with a $1.65 price target. This is largely in line with where the Beach share price is trading today.

The broker made the move on valuation grounds after a sharp decline in recent weeks.

The post What’s going on with the Beach Energy share price on Thursday? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the Beach Energy share price is leaping 4% today
• 5 things to watch on the ASX 200 on Tuesday
• Why is the Beach Energy share price tumbling 7% on Monday?
• ASX 200 midday update: PointsBet jumps, energy shares sink, Vicinity’s upgrade

Motley Fool contributor James Mickleboro 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.

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It’s been a good day for these ASX small-cap mining stocks – they’ve each seen their share price rocket higher on exciting discoveries.

Let’s take a closer look at what they have uncovered and how they are performing on Thursday.

2 ASX mining shares lifting on exciting news

Far East Gold Ltd (ASX: FEG)

The Far East Gold share price is surging 14% higher to trade at 33 cents on Thursday.

The company’s gain follows news from its Woyla Copper Gold Project. Samples from the project have been tested and found to house gold associated with sulphides.

The gold was identified by petrographic studies, undertaken to better understand gold occurring within samples that assayed bonanza grade gold and silver.

The studies have also helped verify a previous petrographic study on the project’s Aloe Rek vein system.

Additionally, they confirmed high-grade gold and silver mineralisation associated with ginguro banded quartz is present within all of the defined Woyla vein systems.

Carnaby Resources Ltd (ASX: CNB)

Another tiny ASX mining share enjoying a day in the green following a new discovery is Carnaby Resources. Its stock has lifted 17% to trade at 82 cents on Thursday.

The company announced “very significant” geophysical anomalies identified at the Greater Duchess Copper Gold Project this morning.

Induced polarisation (IP) surveys have recorded large and strong IP chargeability anomalies in two previously undrilled areas of the project.

The company’s managing director, Rob Watkins commented on today’s news, saying:

The undrilled 3 kilometre corridor between [the project’s Nil Desperandum prospect] and [its Lady Fanny prospect] now has two excellent deposit scale drill targets following the identification of these highly significant IP anomalies.

Watkins also noted that IP identified the original high grade discovery hole at the project’s Nil Desperandum prospect. It showed similar anomalies as those announced today.

The post 2 tiny ASX mining shares surging on new discoveries appeared first on The Motley Fool Australia.

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More reading

• What’s going on with the Beach Energy share price on Thursday?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why is the Xero share price leaping higher today?
• Here’s why this ASX 200 gold share is tumbling 15% to a 7-year low
• Why Cooper Energy, Lake Resources, Leo Lithium, and Zip shares are sinking

Motley Fool contributor Brooke Cooper 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.

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The S&P/ASX 200 Index (ASX: XJO) has had another wild day of trading so far this Thursday. At the time of writing, the ASX 200 has rebounded higher after almost lapsing back into negative territory in early afternoon trading. The index is currently up by 0.33% at around 6,530 points.

But let’s dig a little deeper into these moves and check out the ASX 200 shares that are topping the market’s trading volume charts right now, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Core Lithium Ltd (ASX: CXO)

ASX 200 lithium stock Core Lithium is our first share to check out today. So far this Thursday, a sizeable 31.3 million shares have been bought and sold.

However, there’s been no major news out of Core Lithium today. So it’s likely that this volume has been caused by the share price volatility we’ve seen today.

After yesterday’s nasty 15% drop, the company initially rebounded this morning, but has since turned negative, and is presently down by 0.94% at 84.2 cents a share.

Pilbara Minerals Ltd (ASX: PLS)

Another ASX 200 lithium stock is next up today in Pilbara Minerals. A notable 38.23 million Pilbara shares have changed hands as it currently stands. Like with Core Lithium, Pilbara shares have also had a wild day.

But we did have some news out from the company this morning. Pilbara informed investors that it accepted a relatively high price of just over US$7,000 per dry tonne for its lithium spodumene without even having to hold the usual auction process.

This news saw Pilbara shares initially spike all the way to $2.19 a share. But the share price has cooled since, and is now at $2.04, down 1.21% today. After all of this volatility, it’s perhaps no wonder that so many shares have changed hands.

Lake Resources N.L. (ASX: LKE)

Our final and most traded share today is none other than ASX 200 newcomer (and lithium stock) Lake Resources. So far, a whopping 86.4 million Lake Resources shares have been traded on the markets today.

Unfortunately, this comes after a rather horrible share price sell-off for this company. Lake Resources shares are down another 15.5% today at 71 cents a share. That puts this company’s losses since Monday at more than 54%.

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

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More reading

• Why Cooper Energy, Lake Resources, Leo Lithium, and Zip shares are sinking
• Can Macquarie shares deliver an attractive dividend yield AND 30% upside in 2022?
• The Lake Resources share price has crashed 50% since joining the ASX 200 on Monday. What’s going on?
• ASX 200 midday update: Pilbara Minerals’ lithium price update, BHP tumbles
• Pilbara Minerals share price storms higher amid ‘unprecedented demand’ for lithium

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 Scott Phillips.

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It’s been a pretty happy day for the S&P/ASX 200 Index (ASX: XJO) so far this Thursday, although not as happy as this morning.

At the time of writing, the ASX 200 is up by 0.37% at just over 6,530 points after the index rose as high as 6,550 points earlier today.

But it’s an even happier day for the Xero Limited (ASX: XRO) share price. Xero shares have enjoyed a healthy 2.59% bump so far today to $76.94 a share as it currently stands.

This latest lift continues a trend we have been seeing for most of the week. Since Xero hit a new 52-week low of $72.53 a share last Friday, the company has risen by more than 5%.

Saying that, Xero is still down significantly over a longer time frame. The online accounting software provider’s shares have lost around 13% over the past month (even after the recent gains). It also remains down by a painful 47% over 2022 thus far.

But enough dwelling on that. So why is the Xero share price continuing to lift today?

Why is the Xero share price beating the ASX 200 today?

Well, it’s not entirely clear. There hasn’t been any news or developments out of the company itself. However, it is worth noting that Xero is not the only ASX 200 tech share currently enjoying some market-beating gains. We also see similar moves in the Block Inc (ASX: SQ2), WiseTech Global Ltd (ASX: WTC) and Altium Limited (ASX: ALU) share prices. Block shares are leading the pack, gaining 4.44% so far today.

So it’s possible Xero shares are just getting caught up in this updraft lifting most ASX tech shares today.

There is another development worth discussing, though. As we covered earlier today, rumours are flying around that Australia and New Zealand Banking Group Ltd (ASX: ANZ) is looking to acquire Xero rival MYOB. MYOB is a fellow accounting software provider used by more than a million small businesses in Australia.

MYOB was once an ASX-listed share in its own right. However, it was bought by private equity firm KKR for $2.9 billion in 2019.

So if ANZ does indeed buy MYOB, it could have implications for Xero in the Australian and New Zealand markets. But this is just a rumour at this stage. And it’s unclear whether this is impacting the Xero share price today.

Whatever the reason for the Xero share price’s strong performance today, no doubt it will come as more relief for shareholders.

At the current Xero share price, this ASX 200 tech share has a market capitalisation of $11.46 billion.

The post Why is the Xero share price leaping higher today? appeared first on The Motley Fool Australia.

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More reading

• ‘Price makers’: 3 ASX 200 shares that can pass on rising costs in an inflationary environment
• Why is Goldman Sachs tipping 50% upside for the Xero share price?
• 2 ASX tech shares Goldman Sachs rates as buys
• Is it time to go bargain hunting for ASX shares?
• 2 ASX tech shares brokers rate as buys this month

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 positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) gold mining shares are having a tough day of it with gold prices down 0.25% overnight.

At the time of writing the ASX 200 is up 0.2% while the S&P/ASX All Ordinaries Gold Index (ASX: XGD), which contains miners outside of the top 200, is down 2.9%.

All the ASX 200 gold shares are in the red.

But St Barbara Ltd (ASX: SBM) is doing it particularly tough.

Why is this ASX 200 gold share tumbling to 7-year lows?

St Barbara finished last week with a strong showing, gaining 6.1% on Friday.

This week things have gone decidedly the other direction.

After posting moderate losses on Monday and Tuesday, the stock crashed 18.6% yesterday. With today’s intraday losses factored in, the miner is now down 33.6% since Friday’s close.

That puts shares at 7-year lows.

So, why the brutal sell-off?

It appears investors were less than pleased with the company’s announcement yesterday that it will delay its final investment decision on its Simberi Sulphide Project expansion and undertake a strategic review. Simberi is located in Papua New Guinea.

As The Motley Fool reported, the ASX 200 gold share will undertake the strategic review to determine the best capital allocations between Simberi and two of its other projects.

Also dragging on the St Barbara share price was the announcement that its Canada based Touquoy project faces disruption. Regulatory authorities are seeking more details on the miner’s plan to convert the Touquoy open pit into a Tailings Management Facility after it finishes the open pit mining.

St Barbara share price snapshot

The ASX 200 gold share finds itself at the bottom of the list of performers among the top listed gold stocks.

Year-to-date the St Barbara share price is down 44%, with shares down 55% since this time last year.

For some context, the ASX 200 is down 11% over the full year while the ASX Gold Index has dropped 17%.

The post Here’s why this ASX 200 gold share is tumbling 15% to a 7-year low appeared first on The Motley Fool Australia.

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More reading

• Why Blackmores, Lake Resources, St Barbara, and Zip shares are dropping
• ASX 200 midday update: St Barbara and Zip drop to multi-year lows
• Why is the St Barbara share price crashing 14% to a multi-year low?
• These were the best performing ASX 200 shares last week
• 5 things to watch on the ASX 200 on Friday

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.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 6,534.1 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

Cooper Energy Ltd (ASX: COE)

The Cooper Energy share price is down 22% to 24.5 cents. This follows the completion of the energy company’s institutional entitlement offer and placement. Cooper Energy raised $183 million at a 22% discount of 24.5 cents per new share. The proceeds will be used to fund the transformational acquisition of the Orbost Gas Processing Plant.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has crashed a further 16% to 70.7 cents. This lithium developer’s shares have been hammered this week amid the sudden exit of its CEO and concerns over future prices of the white metal. In respect to the former, Lake’s CEO left without comment and sold all his 10.2 million shares the following day.

Leo Lithium (ASX: LLL)

The Leo Lithium share price has dropped 23% to 54 cents. This morning this lithium developer’s shares hit the ASX boards following a demerger from Firefinch. As part of the demerger, the company raised $100 million via an IPO at 70 cents per new share.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 3% to 45 cents. Not even a business update has been able to stop the rot. This latest decline means that Zip now has a market capitalisation of just over $300 million. To put that into context, this is less than the adjusted loss before tax it recorded in FY 2021 of $359.6 million.

The post Why Cooper Energy, Lake Resources, Leo Lithium, and Zip shares are sinking appeared first on The Motley Fool Australia.

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More reading

• The Lake Resources share price has crashed 50% since joining the ASX 200 on Monday. What’s going on?
• Own Zip shares? Here’s how much debt the company has and what this could mean amid rising interest rates
• ASX 200 midday update: Pilbara Minerals’ lithium price update, BHP tumbles
• Leo Lithium share price fails to roar and sinks 26% following demerger
• Zip share price dives 11%, closing below 50c for first time in 6 years

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. 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.

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The Lynas Rare Earths Ltd (ASX: LYC) share price has tumbled in June followed by a broader market decline.

The negative sentiment across the ASX appears to be coming from news of a potential recession in the United States.

The popular saying, “When America sneezes, Australia catches a cold” has led investors to switch to safe-haven assets.

As such, the rare earths producer’s shares are trading at $8.30, which means they are down almost 16% in June so far.

In comparison, Iluka Resources Limited (ASX: ILU), and Arafura Resources Limited (ASX: ARU) shares have also fallen in June. They are currently down 21% and 43% respectively.

Both are competitors to Lynas in the rare earths market but are some distance away from being a threat.

When looking at the sector as a whole, the S&P/ASX 200 Materials (ASX: XMJ) index has dipped 13% over the past three weeks.

What’s happened with Lynas lately?

Despite the company announcing a major deal with the US Government last week, the Lynas share price has tanked.

The release was particularly positive given that Lynas depends on China for final separation of its heavy rare earths.

In the past, China has weaponised rare earths supply to the market. And if geopolitical tensions reach boiling point in future, it is likely to happen again. This has caused Western analysts to rethink their strategy to secure the crucial commodity.

To put that into perspective, heavy rare earths are used in cutting-edge weapons and communications systems. This includes electrical power systems and magnets in the advanced, fifth-generation F-35 fighter jet.

In what should have been a day in the green for Lynas shares, investors shrugged off the good news.

It is worth noting that Lynas is the world’s second-largest producer of Neodymium-Praseodymium (NdPr), behind China. The Asian powerhouse accounted for 60% of global production of rare earths last year.

Lynas share price summary

Despite its recent slump, the Lynas share price has soared by more than 50% over the past 12 months.

The company’s shares touched a multi-year high of $11.59 in April 2022 before treading lower in the following months.

Lynas has a price-to-earnings (P/E) ratio of 28.41 and commands a market capitalisation of roughly $7.55 billion.

The post How is the Lynas share price performing against its sector this month? appeared first on The Motley Fool Australia.

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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 Scott Phillips.

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