0051 GMT - Bell Potter thinks the neodymium and praseodymium price is nearing the bottom of the cost curve, which helps to support its buy call on Lynas Rare Earths. "The risks of stronger medium-term pricing (are) outweighing the risks of weaker pricing in our opinion," analyst Regan Burrows says in a note. Bell Potter also highlights that Gina Rinehart, Australia's richest person, has increased her stake in Lynas Rare Earths to 5.8% and also taken a substantial stake in U.S.-listed MP Materials. That means Lynas's stock could get a lift from corporate activity. "This combination makes holding out difficult, albeit profitable if timed correctly," Bell Potter says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 25, 2024 20:51 ET (00:51 GMT)
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