Stifel Nicolaus Reaffirms Buy Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a report released on Wednesday,London Stock Exchange reports. They currently have a GBX 30 target price on the stock. Stifel Nicolaus’ price target indicates a potential upside of 8.30% from the company’s previous close.

Separately, Berenberg Bank reaffirmed a “buy” rating on shares of Rainbow Rare Earths in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rainbow Rare Earths has an average rating of “Buy” and an average price target of GBX 32.

Rainbow Rare Earths Trading Up 6.5%

Shares of Rainbow Rare Earths stock traded up GBX 1.70 during trading on Wednesday, hitting GBX 27.70. The stock had a trading volume of 4,846,079 shares, compared to its average volume of 1,030,511. Rainbow Rare Earths has a 1 year low of GBX 9 and a 1 year high of GBX 29.50. The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 5.16. The company has a market capitalization of £178.46 million, a PE ratio of -56.53 and a beta of 0.53. The stock has a 50 day simple moving average of GBX 19.23 and a 200 day simple moving average of GBX 18.65.

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. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil.