Rainbow Rare Earths (LON:RBW - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Berenberg Bank in a report released on Wednesday, Digital Look reports. They currently have a GBX 52 price objective on the stock. Berenberg Bank's price target points to a potential upside of 147.62% from the company's current price.
Separately, 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. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of GBX 40.33.
Check Out Our Latest Research Report on RBW
Rainbow Rare Earths Stock Performance
RBW stock traded up GBX 0.50 on Wednesday, reaching GBX 21. The company's stock had a trading volume of 396,030 shares, compared to its average volume of 931,530. The company has a market capitalization of £147.50 million, a P/E ratio of -19.27 and a beta of 0.46. The company has a debt-to-equity ratio of 55.65, a current ratio of 6.98 and a quick ratio of 3.79. Rainbow Rare Earths has a 52 week low of GBX 15.50 and a 52 week high of GBX 30. The firm has a fifty day moving average of GBX 23.07 and a two-hundred day moving average of GBX 22.69.
Insider Transactions at Rainbow Rare Earths
In other news, insider Alexander Lowrie acquired 95,555 shares of Rainbow Rare Earths stock in a transaction on Thursday, August 13th. The stock was bought 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 firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total transaction of £115,500. Company insiders own 23.30% of the company's stock.
About Rainbow Rare Earths
(
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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.
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