Rare Earth Stocks Under Investor’s Microscope – LYC, ALK, PEK

Rare Earth Stocks Under Investor’s Microscope – LYC, ALK, PEK

Metals and mining sector is one of the most capital intensive sectors, and consequently has a high potential for profits, not to forget the equally high risk. Here are some of the metals and mining companies which are currently on the watchlist of the investors:

Lynas Corporation Limited (ASX: LYC)

Lynas Corporation is a metals and mining company which employs more than 650 people, across its operations in Australia and Malaysia.

On 10th April 2019, the company announced that earlier it had received a confidential, highly conditional, indicative non-binding proposal from Wesfarmers Limited (ASX: WES) to acquire 100% stake in the company, through the purchase of ordinary shares at the price of A$2.25 cash per share. On the same day, the company had denied the proposal on the terms outlined by Wesfarmers. The company affirmed the investors about its irreplaceable assets including the Mt Weld ore body, the substantial in-house capability and intellectual property of the company and deep commercial relations.

Recently, the company had also updated about its growth plans to grow with the market and deliver long term shareholder value.

The company has a market capitalisation of A$1.34 billion. On the technical front, the stock has given a rally of more than 20.00% in one month, and YTD return stands at 30.94%. The stock of the company last traded at A$2.010 as on 18 April 2019.

Alkane Resources Limited (ASX: ALK)

Alkane Resources is another metals and mining company which has a primary interest in gold. Recently, in the S&P Dow Jones quarterly rebalance of the S&P/ASX Indices, Alkane Resources got removed from the index due to not meeting the required criterion.

The company also posted mixed numbers in its financial result for the half year period ended 31st December 2018. The revenue from continuing operations went down from $58.74 million in 1HFY18 to $52.35 million in 1HFY19. The cost of sales also went down from $40.40 million to $34.81 million in the same period. Due to a slight fall in the net profit, which stood at $12.19 million compared to $13.45 million in 1HFY18, the basic earnings per share fell from 2.66 cents per share (cps) to 2.41 cps in the same period.

The company has a market capitalisation of A$121.46 million. On the technical front, the stock has given a return of more than 9% in one month, and YTD return stands at 20%. The stock of the company last traded at A$0.235 as on 18 April 2019.

Peak Resources Limited (ASX: PEK)

Peak Resources is an ASX listed metals and mining company, which is in the business of mineral processing technical evaluation.

On 9th April 2019, the company announced that special mining licence for Ngualla project is awaiting cabinet sign-off. Both the minister and Commission expressed their full support for the project and for the company.

The company has a market capitalisation of A$29.57 million with 799.26 million shares outstanding. On the technical front, the stock has given a rally of around 27.59% in one month, and its YTD return stands at 48%. The stock of the company last traded at A$0.037 as on 18 April 2019.


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