Rainbow Rare Earths (LON:RBW) Stock Rating Reaffirmed as Buy by Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a research note issued on Wednesday, Digital Look reports. They presently have a GBX 52 price target on the stock. Berenberg Bank‘s price target suggests a potential upside of 154.90% from the company’s previous close.

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

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock opened at GBX 20.40 on Wednesday. The stock has a market capitalization of £143.28 million, a P/E ratio of -18.72 and a beta of 0.46. The company has a debt-to-equity ratio of 55.65, a quick ratio of 3.79 and a current ratio of 6.98. Rainbow Rare Earths has a 1 year low of GBX 15.50 and a 1 year high of GBX 30. The company’s fifty day moving average price is GBX 23.13 and its 200 day moving average price is GBX 23.56.

Insider Buying and Selling

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