Rainbow Rare Earths’ (RBW) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a report released on Wednesday,Digital Look reports. They currently have a GBX 52 price objective on the stock.

Separately, Canaccord Genuity Group reiterated 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 equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 40.33.

Rainbow Rare Earths Price Performance

Shares of LON:RBW opened at GBX 20.40 on Wednesday. Rainbow Rare Earths has a twelve month low of GBX 15.50 and a twelve month high of GBX 30. The company has a quick ratio of 3.79, a current ratio of 6.98 and a debt-to-equity ratio of 55.65. The company has a market cap of £143.28 million, a price-to-earnings ratio of -18.72 and a beta of 0.46. The business has a 50 day moving average price of GBX 23.13 and a 200 day moving average price of GBX 23.56.

Insiders Place Their Bets

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

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.