Rainbow Rare Earths (LON:RBW) Given Buy Rating at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a research note issued on Thursday, September 24th, MarketBeat Ratings reports. They presently have a GBX 52 target price on the stock. Berenberg Bank’s price objective would suggest a potential upside of 120.34% from the stock’s previous close.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 39 price objective on shares of Rainbow Rare Earths in a research note on Thursday, September 24th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Stock Up 0.4%

LON:RBW traded up GBX 0.10 during mid-day trading on Thursday, reaching GBX 23.60. The company’s stock had a trading volume of 395,190 shares, compared to its average volume of 957,094. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. Rainbow Rare Earths has a 1 year low of GBX 15.50 and a 1 year high of GBX 30. The stock has a fifty day moving average of GBX 23.33 and a 200-day moving average of GBX 23.75. The firm has a market capitalization of £165.13 million, a PE ratio of -21.65 and a beta of 0.46.

Insider Transactions at Rainbow Rare Earths

In other news, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie acquired 95,555 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of GBX 25 per share, for a total transaction of £23,888.75. 23.39% of the stock is currently owned by company insiders.

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.