Rainbow Rare Earths (LON:RBW) Earns "Buy" Rating from Berenberg Bank

Key Points

• Rainbow Rare Earths has received a "buy" rating from Berenberg Bank, which suggests a price target of GBX 34, indicating a potential upside of 108.59% from the stock's last closing price.
• The company's stock rose by 5.2% on the day of the report, reflecting positive market sentiment.
• Rainbow Rare Earths is focused on developing projects in South Africa and Brazil, aiming to establish an ethical supply chain for rare earth elements critical to the green energy transition.

Berenberg Bank reissued their buy rating on shares of Rainbow Rare Earths (LON:RBW - Free Report) in a report released on Monday, Marketbeat.com reports. The firm currently has a GBX 34 price objective on the stock.

Rainbow Rare Earths Stock Performance

RBW stock traded up GBX 0.15 during midday trading on Monday, reaching GBX 17.15. 1,474,103 shares of the company's stock traded hands, compared to its average volume of 738,075. The firm has a market capitalization of £110.49 million, a PE ratio of -2,286.67 and a beta of 2.25. Rainbow Rare Earths has a 52 week low of GBX 8.50 and a 52 week high of GBX 18.50. The company has a 50-day moving average price of GBX 14.10 and a two-hundred day moving average price of GBX 11.97. 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.