Glonghui, September 21 | Guoxin Securities Research Report pointed out that rare earth prices fell, and Northern Rare Earth (600111.SH) performance declined in the first half of the year; production increased with indicators, and continued growth can be expected. The company is a leading enterprise in the rare earth industry. Quotas continue to increase, and are actively expanding high value-added products. However, due to weak demand growth, the original profit forecast was lowered. The current stock price corresponds to a PE of 25.6/21.5/18.5x, maintaining the “buy” rating. Recently, demand in the rare earth market is still relatively lackluster, but the listing price of products of the Northern Rare Earth Group has remained strong. In August, the listing price of praseodymium oxide was 470,000 yuan/ton, which has positively guided the market. Looking at the medium to long term, supply concentration in the rare earth industry is high, and demand is expected to continue to rise. As an important strategic metal, reasonable prices in the medium to long term will fully reflect the scarcity of resources.