LYC 1.08% $10.97 lynas rare earths limited

LYC: Insanely overvalued

  1. 769 Posts.
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    Revenues ($143m) and gross profit ($63m) are pitifully small given the >$8bn market cap.

    Equity a few quarters ago jumped from $500m to >$900m on the back of a cap raise.

    I expect to see an absolute slaughtering of the share price in the coming weeks on LYC, especially as the rare earth ETF has topped out hard and looks to be reversing.

    I recommend people take a look at established miners on the ASX and do a comparison. It's hard to find a good rare earth to compare to, but plenty of miners of different metals/resources can give a good idea of what a miner should be valued at, for those who want to do their own research.

    Discl: I have started my short position and will keep building it in the month of December.
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