Canaccord Genuity Group Reaffirms "Speculative Buy" Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW - Get Free Report)'s stock had its "speculative buy" rating restated by research analysts at Canaccord Genuity Group in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a GBX 21 ($0.26) price objective on the stock. Canaccord Genuity Group's price target indicates a potential upside of 116.49% from the stock's current price.

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 38 ($0.47) target price on shares of Rainbow Rare Earths in a research note on Thursday, March 28th.

Rainbow Rare Earths Price Performance

Shares of LON:RBW traded up GBX 0.35 ($0.00) on Tuesday, reaching GBX 9.70 ($0.12). 1,095,681 shares of the company traded hands, compared to its average volume of 501,804. Rainbow Rare Earths has a fifty-two week low of GBX 7.02 ($0.09) and a fifty-two week high of GBX 18 ($0.22). The company's 50 day moving average is GBX 10.95 and its 200-day moving average is GBX 13. The stock has a market capitalization of £61.14 million, a PE ratio of -475.00 and a beta of 1.56. The company has a debt-to-equity ratio of 4.33, a current ratio of 6.24 and a quick ratio of 3.79.

Rainbow Rare Earths Company Profile

Rainbow Rare Earths Limited engages in the mining and exploration of rare earth minerals. It explores for neodymium, dysprosium, terbium, and praseodymium deposits. The company holds 90% interest in the Gakara project covering an area of approximately 135 square kilometers located in Western Burundi.