Berenberg Bank Issues Pessimistic Forecast for Rainbow Rare Earths (LON:RBW) Stock Price

Key Points

• Berenberg Bank has reduced the price target for Rainbow Rare Earths (LON:RBW) from GBX 34 to GBX 33, maintaining a "buy" rating, which suggests a potential upside of 70.98% from the current stock price.
• RBW shares declined by 2.0% to GBX 19.30 during trading, with a significant trading volume of over 3 million shares, compared to an average volume of 796,266 shares.
• The company is focused on developing the Phalaborwa Rare Earths Project in South Africa and aims to establish an independent and ethical supply chain for rare earth elements essential for the green energy transition.

Rainbow Rare Earths (LON:RBW - Get Free Report) had its price target reduced by investment analysts at Berenberg Bank from GBX 34 to GBX 33 in a research report issued on Tuesday,Digital Look reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price objective indicates a potential upside of 70.98% from the stock's current price.

Rainbow Rare Earths Trading Down 2.0%

Shares of RBW stock traded down GBX 0.40 during trading hours on Tuesday, reaching GBX 19.30. The company's stock had a trading volume of 3,257,599 shares, compared to its average volume of 796,266. The stock has a market capitalization of £124.34 million, a P/E ratio of -2,573.33 and a beta of 2.25. Rainbow Rare Earths has a one year low of GBX 9 and a one year high of GBX 20.50. The firm's fifty day simple moving average is GBX 16.50 and its 200 day simple moving average is GBX 13.10. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34.

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.

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