Rainbow Rare Earths (LON:RBW) Earns “Buy” Rating from Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report released on Wednesday, Digital Look reports. They currently have a GBX 52 price objective on the stock. Berenberg Bank‘s price target points to a potential upside of 147.62% from the company’s current price.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 39 price objective on shares of Rainbow Rare Earths in a report on Thursday, September 24th. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Stock Performance

RBW stock traded up GBX 0.50 on Wednesday, reaching GBX 21. The company’s stock had a trading volume of 396,030 shares, compared to its average volume of 931,530. The company has a market capitalization of £147.50 million, a P/E ratio of -19.27 and a beta of 0.46. The company has a debt-to-equity ratio of 55.65, a current ratio of 6.98 and a quick ratio of 3.79. Rainbow Rare Earths has a 52 week low of GBX 15.50 and a 52 week high of GBX 30. The firm has a fifty day moving average of GBX 23.07 and a two-hundred day moving average of GBX 22.69.

Insider Transactions at Rainbow Rare Earths

In other news, insider Alexander Lowrie acquired 95,555 shares of Rainbow Rare Earths stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of GBX 25 per share, with a total value of £23,888.75. Also, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total transaction of £115,500. Company insiders own 23.30% of the company’s stock.

About Rainbow Rare Earths

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.