Rainbow Rare Earths Limited (LON:RBW – Get Free Report)’s stock price dropped 1.3% during mid-day trading on Wednesday. The stock traded as low as GBX 18.50 and last traded at GBX 19. 99,529 shares traded hands during trading, a decline of 89% from the average session volume of 906,633 shares. The stock had previously closed at GBX 19.25.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on RBW shares. 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. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 52 price target on shares of Rainbow Rare Earths in a report on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 40.33.
View Our Latest Research Report on Rainbow Rare Earths
Rainbow Rare Earths Trading Down 1.3%
The stock has a market capitalization of £133.45 million, a PE ratio of -16.67 and a beta of 0.46. 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 business’s 50-day moving average is GBX 21.94 and its two-hundred day moving average is GBX 22.78.
Insider Activity
In other news, insider Alexander Lowrie bought 95,555 shares of Rainbow Rare Earths stock in a transaction dated Thursday, August 13th. The stock was acquired 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 business’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. 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.
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