Berenberg Bank Reaffirms Buy Rating for Rainbow Rare Earths (LON:RBW)

Key Points

• Rainbow Rare Earths has received a "buy" rating from Berenberg Bank, indicating a strong endorsement of the company.
• The bank has set a target price of GBX 34 for the stock, suggesting a potential upside of 98.54% from its current price.
• The company focuses on establishing an independent supply chain for rare earth elements, particularly in the development of the Phalaborwa Rare Earths Project in South Africa.

Rainbow Rare Earths (LON:RBW - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Berenberg Bank in a research report issued on Monday, Marketbeat.com reports. They presently have a GBX 34 target price on the stock. Berenberg Bank's price target would suggest a potential upside of 97.10% from the stock's current price.

Rainbow Rare Earths Trading Up 12.5%

Shares of LON RBW traded up GBX 1.92 during mid-day trading on Monday, hitting GBX 17.25. The stock had a trading volume of 2,455,783 shares, compared to its average volume of 735,843. Rainbow Rare Earths has a 1 year low of GBX 8.50 and a 1 year high of GBX 18.50. The firm has a market cap of £111.14 million, a P/E ratio of -2,300.00 and a beta of 2.25. 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 business has a 50 day moving average price of GBX 15.37 and a two-hundred day moving average price of GBX 12.41.

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.