Lindian Resources Seems Pricey Given Development Still in Works -- Market Talk

Dow Jones
05/04

2352 GMT - Lindian Resources appears a bit expensive after a recent rally despite its large resource and recent project progress, according to Macquarie. The bank initiates coverage of the stock with a neutral rating and A$0.75/share target. "LIN's Kangankunde rare earths project boasts a large, long life resource base, simple flowsheet, and strategic partnership for offtake volumes," says Macquarie. Yet "LIN's valuation appears full when viewed against its current stage of project development." The regulatory and logistics risks around the proposed SARECO acquisition are also underappreciated, according to Macquarie. The bank doesn't include SARECO in its base case. Shares ended Friday at A$0.82. The stock has roughly doubled year to date. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

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May 03, 2026 19:52 ET (23:52 GMT)

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