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Lynas Corporation (ASX:LYC) had made an announcement related to the NUF residue with the help of the press release. Mr. Mike Harding is the Chairman of Lynas Corporation while Mr. Gaudenz Sturzenegger is the companyâs Chief Financial Officer (or CFO). As per the release dated February 14, 2019, the company provided an update with regards to a solid residue which is known as NUF and was referred to in LYCâs previous announcements. Lynas Corporation had earlier stated that NUF happens to be one of two solid residues produced at Lynas Malaysia plant. The release issued by Lynas Corporation had stated that after the extensive consultation with the government as well as regulators, there happens to be agreed pathway for the management of NUF. The company mentioned in the release that updated NUF action plan happens to include options for commercialization for the NUF residue as well as long-term NUF disposal solution. In the present stage, LYC views that there would not be material additional compliance costs.Â
We would be having a brief overview of Lynas Corporationâs quarterly report for the period ended in December 2018. Not so long ago, the company stated that invoiced sales revenue amounted to A$79.9 million as well as the sales receipts stood at A$77 million in the quarter ended December 2018. The companyâs release also threw light on production performance. The release issued by Lynas Corporation stated that over six hundred tonnes of NdPr were produced in October for a 2nd consecutive month. However, REO production of 4,422 tonnes implies a fall from 5,220 tonnes which was in the September quarter because of final Lynas NEXT upgrades as well as temporary production halt in the month of December. The companyâs total operating cash flows amounted to A$7.4 million. However, the company had incurred A$2.1 million towards the royalty payments.
We would now see how Lynas Corporationâs stock has performed today and how it had performed in the recent past. Today (i.e. February 15, 2019), Lynas Corporation Limitedâs stock ended the session in green as the stock price witnessed the rise of A$0.195 per share or 11.89% on the Australian Securities Exchange or ASX and closed at A$1.835 per share. The market capitalization of Lynas Corporation stood at $1.09 billion. As per the Australian Securities Exchange, the companyâs stock price is trading slightly towards the lower side. Talking about the past performance, the stock of Lynas Corporation delivered the return of -27.75% in the time span of previous 6 months, while in the time frame of previous three months, the stockâs return stood at -27.11%. However, in the span of the previous one month, the stock of Lynas Corporation had posted the return of 0.31%.
As per the Australian Securities Exchange, the companyâs stock is having earnings per share or EPS of A$0.088 while the price-to-earnings ratio (or P/E ratio) happens to be at 18.550x.
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