JL Mag Rare-Earth (HKG:6680) said it expects to post higher profit in the third quarter, according to a Hong Kong bourse filing Thursday.
Shares of the magnet seller gained over 2% in morning trade Friday.
The company expects to post 200 million yuan to 245 million yuan in attributable profit, up 159% to 217% from the 77.2 million yuan reported a year prior.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.