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

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.

Lynas Corp. (OTCMKTS:LYSDY - Get Free Report)'s share price 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 changing hands.

Analysts Set New Price Targets

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

Lynas Trading Up 1.1%

The stock's 50-day moving average price is $8.09 and its two-hundred day moving average price is $6.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 1.67.

Lynas Company Profile

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.