0228 GMT - Lynas's first output of separated dysprosium and terbium may be a significant milestone for both the company and the China-dominated market, but sales of heavy rare earths will do little to boost the miner's earnings in the near term, Macquarie analysts say in a note. "Financial benefits may take time due to challenges in achieving required product quality and volume," the analysts say. Investor focus will remain on the ramp-up of Lynas's Kalgoorlie cracking and leaching facility, they add. The analysts believe broader supply concerns could ease as China and the U.S. make progress in trade talks, and heavy rare earths leave Chinese ports. Macquarie downgrades Lynas to underperform from neutral, citing recent price strength. Its target on Lynas remains at A$8.00/share, up 43% year to date, is down 1.1% at A$9.18. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

June 22, 2025 22:28 ET (02:28 GMT)

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