Rainbow Rare Earths (LON:RBW) Sets New 1-Year High - Time to Buy?

Key Points

• Rainbow Rare Earths' shares hit a new 52-week high at GBX 18 ($0.24) during trading, with recent activity showing a slight decline to GBX 17.50.
• Berenberg Bank has reiterated a "buy" rating for Rainbow Rare Earths, setting a price target of GBX 34 ($0.46).
• The company focuses on establishing an ethical supply chain for rare earth elements essential for the green energy transition, particularly through its Phalaborwa and Uberaba projects.

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as GBX 18 ($0.24) and last traded at GBX 17.50 ($0.24), with a volume of 4027987 shares. The stock had previously closed at GBX 18 ($0.24).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 34 ($0.46) price objective on shares of Rainbow Rare Earths in a report on Thursday, July 10th.

Rainbow Rare Earths Trading Down 1.9%

The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. The firm has a market capitalization of £125.33 million, a P/E ratio of -29,591.45 and a beta of 2.25. The firm has a 50 day simple moving average of GBX 12.95 and a two-hundred day simple moving average of GBX 11.66.

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.