It was a mixed week for the
S&P/ASX 200 Index (ASX: XJO). A pullback on Friday led to the benchmark index ending the period marginally lower at 7,392.6 points.
This couldn’t stop some ASX 200 shares from charging higher over the period. Here’s why these were the best performers on the index last week:
Lynas Rare Earths Ltd
The Lynas share price was the best performer on the ASX 200 last week with a 14.2% gain. Investors were fighting to get hold of the rare earths producer’s shares following the release of its fourth quarter update. Lynas reported a 79.7% increase in quarterly neodymium and praseodymium (NdPr) production to 1,393 tonnes. Combined with the almost doubling of its average realised price, this led to a significant increase in quarterly sales revenue to $185.9 million. This was up materially from sales revenue of $38 million a year earlier.
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