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

Key Points

• Berenberg Bank reiterated its “buy” rating on Rainbow Rare Earths and maintained a GBX 52 price target, implying 116.67% upside from the current price.
• Canaccord Genuity upgraded the stock to “speculative buy” and raised its target to GBX 39. Analysts collectively assign Rainbow Rare Earths an average “Buy” rating with a GBX 40.33 price target.
• The shares opened at GBX 24, while the company develops rare-earth recovery projects in South Africa and Brazil; insiders own 23.39% of the stock, with one insider recently buying and another selling shares.

Rainbow Rare Earths (LON:RBW - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Berenberg Bank in a note issued to investors on Monday, Digital Look reports. They presently have a GBX 52 price target on the stock. Berenberg Bank's target price indicates a potential upside of 116.67% from the stock's current price.

Separately, Canaccord Genuity Group raised shares of Rainbow Rare Earths to a "speculative buy" rating and upped their price objective for the stock from GBX 22 to GBX 39 in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of GBX 40.33.

Rainbow Rare Earths Stock Performance

LON:RBW opened at GBX 24 on Monday. The stock has a fifty day moving average price of GBX 22.70 and a 200-day moving average price of GBX 23.54. The company has a market cap of £167.93 million, a price-to-earnings ratio of -22.02 and a beta of 0.46. The company has a debt-to-equity ratio of 9.83, a quick ratio of 3.79 and a current ratio of 1.22. Rainbow Rare Earths has a fifty-two week low of GBX 15 and a fifty-two week high of GBX 30.

Insider Buying and Selling

In related news, insider Alexander Lowrie purchased 95,555 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of GBX 25 per share, for a total transaction of £23,888.75. Also, insider George Bennett sold 550,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Company insiders own 23.39% 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.

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