US-China Trade Tensions Spur Best Quarter for Lynas Since 2015

Australian miner Lynas Rare Earths Ltd. is on track to post its strongest quarter of stock gains in nearly a decade as investors bet on its role as a key beneficiary of escalating US-China trade tensions.

Shares of the firm, which counts billionaire Gina Rinehart among its backers, have surged 97% this quarter to outperform Asian peers. The rally comes as Beijing’s retaliation against broad US tariffs forced investors to look to alternatives in the rare earths market outside of China.

As investors scour global markets to identify stocks poised to gain from the escalating trade tensions between the ...