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Lynas Corporation attracts fund trackers following entry into Australian 200 Index

Lynas is the world number one supplier of neodymium-praseodymium to the free market.
Lynas Corporation attracts fund trackers following entry into Australian 200 Index
Lynas shares continue to climb

Lynas Corporation (ASX:LYC, OTC:LYSDY) has a new substantial shareholder in Credit Suisse Australia, on behalf of its group and affiliates.

Credit Suisse is currently holding 6.69% of the stock and voting power.

Lynas has been attracting attention from funds that track indexes, following its entry into the S&P/ASX 200 Index and the S&P/ASX All Australian 200 Index in the December 2017 quarterly rebalance.

Shares in the company have tripled over the past 12-months and are trading at $2.24, which is close to the highs for the period.

The share register was also recently tightened following a 1 for 10 share consolidation.

Operating environment

Helping the positive re-rating has been stable operating costs and higher production rates on neodymium-praseodymium from its chemical processing operation in Kuantan, Malaysia.

Lynas has quality, long term relationships with direct customers and end users around the world, primarily magnet makers and automotive manufacturers in Japan and China.

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Lynas Corporation Timeline

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