Lynas Rare Earths Ltd (ASX: LYC) shares are ending the week with a bang.
In afternoon trade, the rare earths producer’s shares are up 9% to $18.85.
This means they are now up by over 170% since this time last year.
Unfortunately, the team at Bell Potter thinks this is the top and is warning investors that Lynas shares could come crashing down to Earth soon.
Image source: Getty Images
What is the broker saying?
Bell Potter has been running the rule over Lynas’ half-year results. While it was strong operationally, it fell short of expectations on the bottom line. The broker said:
Revenue was $413m (BPe $402m, VA $411.5m), a 62% increase on PcP, driven by a 49% increase in the basket price. The basket price increase was driven by a…
