Lynas Rare Earths ADR (LYSDY) Upgraded to a ‘Neural’ at JPMorgan

Lynas Rare Earths ADR (OTCMKTS:LYSDY) is one of the best rare earth stocks to buy now. On July 25, JPMorgan upgraded the stock to a ‘Neutral’ from an ‘Underweight’ and increased its price target to AUD10.00 from AUD4.90. The adjustment follows the company’s delivery of solid quarterly results, which affirmed robust production.

Lynas Rare Earths ADR (LYSDY) Upgraded to a ‘Neural’ at JPMorgan

The company produced 2.1kt of NdPr oxide, exceeding JPMorgan’s forecast by 22%. The average basket selling price was $60 per kg, outperforming estimates by 22%. The higher price tag offset high production costs and capital expenditure.

In addition, JPMorgan is buoyed by Lynas Rare Earths inking a non-binding memorandum of understanding with JS Link for the supply of rare earth metals to be used for magnet production in Malaysia.

Lynas Rare Earths ADR (OTCMKTS:LYSDY) is a company that mines and processes rare earth materials, essential components for various high-tech and green technologies. It extracts rare earth minerals from its Mt Weld mine in Western Australia and processes them at its facilities in Malaysia and Kalgoorlie.

While we acknowledge the potential of LYSDY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LYSDY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.