Rainbow Rare Earths' (RBW) "Buy" Rating Reaffirmed at 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 objective on the stock.

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock remained flat at GBX 13.30 ($0.18) during trading hours on Thursday. 1,323,652 shares of the company's stock traded hands, compared to its average volume of 605,886. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The company has a market cap of £107.54 million, a PE ratio of -25,391.37 and a beta of 2.25. Rainbow Rare Earths has a twelve month low of GBX 8.50 ($0.11) and a twelve month high of GBX 14.50 ($0.19). The stock has a 50-day simple moving average of GBX 11.30 and a 200-day simple moving average of GBX 11.24.

Rainbow Rare Earths Company Profile

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.