Berenberg Bank Reaffirms Buy Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a report issued on Thursday, London Stock Exchange reports. They presently have a GBX 52 price target on the stock. Berenberg Bank’s price target points to a potential upside of 129.28% from the company’s current price.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 39 price objective on shares of Rainbow Rare Earths in a research note on Thursday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 40.33.

Rainbow Rare Earths Trading Down 6.7%

LON:RBW opened at GBX 22.68 on Thursday. 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 £158.69 million, a price-to-earnings ratio of -20.81 and a beta of 0.46. The firm has a 50-day moving average price of GBX 23.15 and a two-hundred day moving average price of GBX 23.83. Rainbow Rare Earths has a 52 week low of GBX 15.50 and a 52 week high of GBX 30.

Insider Transactions at Rainbow Rare Earths

In other news, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie acquired 95,555 shares of Rainbow Rare Earths stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of GBX 25 per share, with a total value of £23,888.75. Corporate insiders own 23.39% of the company’s stock.

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.