Short Interest in Lynas Rare Earths Limited – Sponsored ADR (OTCMKTS:LYSDY) Drops By 73.7%

Lynas Rare Earths Limited – Sponsored ADR (OTCMKTS:LYSDY) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 34,682 shares, a drop of 73.7% from the June 15th total of 131,740 shares. Based on an average daily trading volume, of 449,205 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Lynas Rare Earths Stock Up 3.0%

Shares of OTCMKTS:LYSDY traded up $0.33 during mid-day trading on Tuesday, hitting $11.42. The stock had a trading volume of 298,793 shares, compared to its average volume of 335,777. The company’s 50 day moving average is $12.95 and its 200-day moving average is $12.42. Lynas Rare Earths has a 12-month low of $6.32 and a 12-month high of $16.18. The company has a quick ratio of 7.94, a current ratio of 9.25 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

Separately, Macquarie Infrastructure upgraded shares of Lynas Rare Earths from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Lynas Rare Earths has a consensus rating of “Buy”.

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.