Rainbow Rare Earths’ (RBW) Speculative Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their speculative buy rating on shares of Rainbow Rare Earths (LON:RBW) in a report released on Thursday, MarketBeat reports. Canaccord Genuity Group currently has a GBX 39 price target on the stock.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 52 target price on shares of Rainbow Rare Earths in a research report on Monday, September 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 40.33.

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock opened at GBX 24 on Thursday. The stock has a market cap of £167.93 million, a price-to-earnings ratio of -22.02 and a beta of 0.46. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79. Rainbow Rare Earths has a 1 year low of GBX 15.50 and a 1 year high of GBX 30. The firm has a 50-day moving average of GBX 23.21 and a two-hundred day moving average of GBX 23.83.

Insider Buying and Selling at Rainbow Rare Earths

In related news, insider George Bennett sold 550,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total transaction of £115,500. Also, insider Alexander Lowrie acquired 95,555 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of GBX 25 per share, for a total transaction of £23,888.75. 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.