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 report published on Tuesday, MarketBeat.com reports. They currently have a GBX 35 ($0.47) price target on the stock.

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock remained flat at GBX 11 ($0.15) during mid-day trading on Tuesday. 323,122 shares of the company's stock traded hands, compared to its average volume of 577,469. Rainbow Rare Earths has a 52-week low of GBX 8.50 ($0.11) and a 52-week high of GBX 13 ($0.17). The company has a quick ratio of 3.79, a current ratio of 0.21 and a debt-to-equity ratio of 3.34. The firm's 50 day moving average price is GBX 11.22 and its two-hundred day moving average price is GBX 11.34. The firm has a market capitalization of £88.94 million, a PE ratio of -21,000.38 and a beta of 2.25.

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.