Rainbow Rare Earths (LON:RBW) Shares Up 5.5% – What’s Next?

Rainbow Rare Earths Limited (LON:RBW)’s share price rose 5.5% during mid-day trading on Wednesday . The stock traded as high as GBX 23.40 and last traded at GBX 23. Approximately 901,868 shares traded hands during trading, a decline of 10% from the average daily volume of 1,000,334 shares. The stock had previously closed at GBX 21.80.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Rainbow Rare Earths to a “speculative buy” rating and upped their price objective for the stock from GBX 22 to GBX 39 in a research report on Tuesday, May 12th. Berenberg Bank restated a “buy” rating and issued a GBX 52 target price on shares of Rainbow Rare Earths in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 40.33.

Rainbow Rare Earths Trading Up 5.5%

The company has a debt-to-equity ratio of 9.83, a quick ratio of 3.79 and a current ratio of 1.22. The firm has a market cap of £160.93 million, a price-to-earnings ratio of -21.10 and a beta of 0.46. The business has a fifty day simple moving average of GBX 22.22 and a 200-day simple moving average of GBX 22.86.

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.