Rainbow Rare Earths (LON:RBW) Earns Buy Rating from Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rainbow Rare Earths (LON:RBW - Free Report) in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have a GBX 34 ($0.46) price target on the stock.

Rainbow Rare Earths Stock Up 6.4%

Shares of RBW stock traded up GBX 0.80 ($0.01) during trading hours on Thursday, hitting GBX 13.30 ($0.18). 3,318,484 shares of the company were exchanged, compared to its average volume of 598,609. Rainbow Rare Earths has a 52 week low of GBX 8.50 ($0.11) and a 52 week high of GBX 14.50 ($0.20). The business has a 50 day moving average of GBX 11.30 and a two-hundred day moving average of GBX 11.25. The company has a market capitalization of £107.54 million, a PE ratio of -25,391.37 and a beta of 2.25. 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.