Rainbow Rare Earths (LON:RBW) Stock Price Down 1.3% - What's Next?

Key Points

• Rainbow Rare Earths shares fell 1.3% to GBX 23.70 in mid-day trading, with volume 78% below the average session level.
• Analyst sentiment remains positive: Canaccord raised its rating to “speculative buy” with a GBX 39 target, while Berenberg reaffirmed “buy” with a GBX 52 target. The stock has an average rating of “Buy” and a consensus target of GBX 40.33.
• Insider ownership stands at 23.05%; one insider bought 95,555 shares while another sold 550,000 shares. Rainbow is developing rare-earth recovery projects in South Africa and Brazil using phosphogypsum rather than traditional mining.

Rainbow Rare Earths Limited (LON:RBW - Get Free Report)'s stock price was down 1.3% during mid-day trading on Friday . The stock traded as low as GBX 23.65 and last traded at GBX 23.70. 211,626 shares traded hands during trading, a decline of 78% from the average session volume of 961,588 shares. The stock had previously closed at GBX 24.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Rainbow Rare Earths to a "speculative buy" rating and lifted their price objective for the stock from GBX 22 to GBX 39 in a research note on Tuesday, May 12th. Berenberg Bank restated a "buy" rating and issued a GBX 52 price objective on shares of Rainbow Rare Earths in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rainbow Rare Earths has an average rating of "Buy" and an average target price of GBX 40.33.

Rainbow Rare Earths Price Performance

The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79. The company's 50-day moving average price is GBX 22.70 and its 200-day moving average price is GBX 23.51. The company has a market cap of £165.83 million, a P/E ratio of -21.74 and a beta of 0.46.

Insider Activity

In other news, insider Alexander Lowrie acquired 95,555 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired 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 Rainbow Rare Earths stock in a transaction that occurred 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 23.05% 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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