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Lynas (OTCMKTS:LYSDY) Shares Gap Down - Here's What Happened

Lynas logo with Basic Materials background

Key Points

  • Lynas Corp. shares experienced a gap down in price, opening at $9.45 after a previous close of $9.73, and last trading at $9.42.
  • Canaccord Genuity Group downgraded Lynas from a "strong-buy" rating to a "hold" rating, contributing to market concerns about the stock.
  • The company maintains a healthy debt-to-equity ratio of 0.18 and strong liquidity ratios, with a quick ratio of 2.57 and a current ratio of 3.60.
  • Interested in Lynas? Here are five stocks we like better.

Lynas Corp. (OTCMKTS:LYSDY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $9.73, but opened at $9.45. Lynas shares last traded at $9.42, with a volume of 66,810 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group downgraded shares of Lynas from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Get Our Latest Analysis on Lynas

Lynas Stock Performance

The stock's 50 day simple moving average is $8.09 and its 200 day simple moving average is $6.15. The company has a current ratio of 2.83, a quick ratio of 2.57 and a debt-to-equity ratio of 0.07.

About Lynas

(Get Free Report)

Lynas Rare Earths Limited, together with its subsidiaries, engages in the exploration, development, mining, extraction, and processing of rare earth minerals in Australia and Malaysia. The company holds interests in the Mount Weld and Kalgoorlie projects in Western Australia. Its products include lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, terbium, and dysprosium.

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