Rainbow Rare Earths (LON:RBW) Insider George Bennett Sells 550,000 Shares

Rainbow Rare Earths Limited (LON:RBW) insider George Bennett sold 550,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total transaction of £115,500.

Rainbow Rare Earths Trading Up 1.5%

Rainbow Rare Earths stock traded up GBX 0.37 during midday trading on Friday, reaching GBX 24.67. The stock had a trading volume of 914,636 shares, compared to its average volume of 998,787. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. The company has a fifty day moving average of GBX 22.21 and a 200 day moving average of GBX 22.90. Rainbow Rare Earths Limited has a 52-week low of GBX 14 and a 52-week high of GBX 30. The firm has a market cap of £172.60 million, a price-to-earnings ratio of -22.63 and a beta of 0.46.

Analysts Set New Price Targets

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

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.