• Lynas Rare Earths operates Mt Weld, one of the world's highest-grade rare earth deposits, with integrated processing from Australian concentration through Malaysian separation—producing critical NdPr and heavy rare earths like dysprosium and terbium.
• As the only large-scale, commercially operating rare earth separation company outside China, Lynas represents strategic processing infrastructure rather than a conventional mining equity, anchoring Western supply chain security.
• Traditional valuation metrics like the cited P/E above 1,400 miss the strategic premium: investors should evaluate separation capacity, heavy rare earth exposure, and geopolitical positioning over quarterly earnings alone.

A recent analyst note (opens in a new tab) from German financial outlet Finanztrends GmbH & Co. KG (opens in a new tab) revisits Lynas Rare Earths Limited, citing a €9.30 share price, roughly €14.3 billion market capitalization, and projected quarterly revenue near AUD 279 million. The framing is conventional: earnings expectations, institutional ownership trends, and forward sentiment. But Lynas is not a conventional miner.

For Rare Earth Exchanges™ subscribers, the real story is not quarterly EPS. It is a structural position within the global rare-earth supply chain.  The REEx Insights—those rankings upstream, midstream, and downstream.

The Asset Base: Industrial Backbone, Not Exploration Hope

Lynas operates the Mt Weld deposit in Western Australia — widely regarded as one of the world’s highest-grade rare earth ore bodies. Ore is concentrated in Australia, cracked and leached in Kalgoorlie, and refined at the advanced materials plant in Malaysia.

The company produces light rare earth oxides, notably NdPr, and also separates heavy rare earths such as dysprosium and terbium — materials critical for high-temperature permanent magnets.

Thatseparation capability is decisive.

 Outside China, Lynas remains the only large-scale, commercially operating rare earth separation company of consequence. That makes it less of a mining equity and more of a strategic processing infrastructure.

Valuation Without Metallurgy?

The finanztrends.de summary (Feb. 21, 2026) emphasizes price targets, whisper estimates, and shareholder composition. Those metrics matter in traditional equity analysis.

But serious rare earth investors ask different questions:

• What is Lynas’ NdPr versus heavy rare earth output mix?
• How scalable is Kalgoorlie’s cracking and leaching capacity?
• How exposed are margins to Chinese oxide pricing?
• What is the long-term trajectory of U.S. and allied government co-investment?
• What kinds of industrial policy in the West will emerge to support this important company?

The cited P/E above 1,400 reflects compressed earnings relative to market cap — a common feature of cyclical pricing troughs. It may signal overvaluation. Or it may reflect forward pricing of non-Chinese separation scarcity.

Stock Screen — or Supply Chain Lens?

The German analysis reads like a classic equity screen. Rare Earth Exchanges evaluates differently — weighting separation depth, heavy rare earth exposure, downstream optionality, and geopolitical alignment. Plus its position in the ex-China supply chain.

Lynas is not just a rare-earth miner.

It is one of the few non-Chinese separation platformsanchoring Western supply security.

Investors who model it purely on quarterly earnings may miss the strategic premium embedded in that reality.