Sydney, Feb 20, 2026, 18:28 AEDT — After-hours
- Lynas ended Friday 0.45% higher at A$15.68, having hit an intraday peak of A$16.29.
- This week, a JPMorgan filing revealed the bank is no longer counted as a “substantial holder” in Lynas.
- All eyes on Feb. 26 results, with rare-earth prices climbing and supply risks still front and center for investors.
Lynas Rare Earths (LYC.AX) closed out Friday at A$15.68, gaining 0.45%. Shares swung between A$15.68 and A$16.29 through the session, with roughly 3.9 million changing hands. (Investing.com Australia)
Flat finish, but there’s tension in the background. Rare-earth prices are shifting, and Lynas is due with a readout next week—could be a reset on margins and cash flow expectations.
Neodymium and praseodymium prices — often sold together as NdPr and critical for permanent magnets in EVs and defense — have jumped to roughly $123 per kg, topping the $110 per kg “price floor” set in a U.S.-supported deal with MP Materials, Reuters reported this week. “The price rally has been driven by firm downstream magnet demand and deliberate supply management in China,” said Neha Mukherjee, research manager for rare earths at Benchmark Mineral Intelligence, who noted a possible pullback before the end of March. (Reuters)
Morningstar notes that Lynas stands out as a rare major producer beyond China, running both mining and processing operations in Australia as well as Malaysia. (Morningstar)
Filings revealed another twist. According to a notice, JPMorgan Chase & Co. and its affiliates stopped being a substantial holder in Lynas on Feb. 17. Under Australian regulations, investors must notify when their voting power crosses the 5% threshold, up or down.
Demand-side news kept piling up. According to Reuters on Thursday, India plans to begin making rare-earth permanent magnets with help from private-sector firms by the close of 2026. The government cleared a 73 billion rupee program back in November. As Reuters notes, India anticipates its demand for these magnets will double by 2030. (Reuters)
Lynas has circled Feb. 26 as its next key date. On that day, the company plans to release half-year results covering the period ended Dec. 31, 2025. CEO Amanda Lacaze is set to lead an analyst and shareholder briefing at 11 a.m. Sydney time.
Investors want to hear just how much of the NdPr price action makes it into realised prices, as well as what management reveals on production volumes and unit costs. Comments on demand from magnet customers—any shift in tone—can ripple fast through the stock.
But this isn’t a one-way bet. Even slight changes in Chinese supply or demand can send rare-earth prices moving sharply in either direction. One cautious forecast—or a conservative update—might be all it takes to knock a stock that’s already tracking every twist in the commodity market.
