Berenberg Bank Reiterates “Buy” Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reiterated by stock analysts at Berenberg Bank in a research note issued on Wednesday,London Stock Exchange reports. They currently have a GBX 52 target price on the stock. Berenberg Bank’s price target suggests a potential upside of 136.36% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 30 price objective on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Canaccord Genuity Group upgraded shares of Rainbow Rare Earths to a “speculative buy” rating and increased their target price for the company from GBX 22 to GBX 39 in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 40.33.

Rainbow Rare Earths Stock Up 2.3%

RBW stock opened at GBX 22 on Wednesday. The firm has a market capitalization of £153.93 million, a PE ratio of -20.18 and a beta of 0.46. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. Rainbow Rare Earths has a twelve month low of GBX 10.50 and a twelve month high of GBX 30. The stock’s 50 day moving average is GBX 24.97 and its 200-day moving average is GBX 21.95.

Rainbow Rare Earths Company Profile

Rainbow Rare Earths aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition and other advanced future-facing technologies.

It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.

The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.