China Rare Earth Nonferrous Metals (SHA:600259) forecasted first-quarter attributable net profit of between 150 million yuan and 180 million yuan, compared with 47.3 million yuan the previous year.
The up to 281% jump is due to higher rare earth prices and subsidiaries' loss reduction, according to a filing with the Shanghai bourse.
Shares of the rare earth products company were down 1% in recent trade.
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