Rainbow Rare Earths (LON:RBW) Reaches New 12-Month High - What's Next?

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 14.50 ($0.20) and last traded at GBX 13.30 ($0.18), with a volume of 3318484 shares traded. The stock had previously closed at GBX 12.50 ($0.17).

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 34 ($0.46) target price on shares of Rainbow Rare Earths in a research note on Thursday.

Rainbow Rare Earths Trading Up 6.4%

The company has a market capitalization of £107.54 million, a P/E ratio of -25,391.37 and a beta of 2.25. The company has a 50-day simple moving average of GBX 11.27 and a 200 day simple moving average of GBX 11.24. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.