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

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 reaffirmed by stock analysts at Berenberg Bank in a note issued to investors on Monday,Digital Look reports. They presently have a GBX 34 target price on the stock. Berenberg Bank's price target would indicate a potential upside of 98.54% from the company's current price.

Rainbow Rare Earths Stock Performance

Shares of RBW opened at GBX 17.13 on Monday. Rainbow Rare Earths has a 1 year low of GBX 8.50 and a 1 year high of GBX 18.50. The company's 50 day simple moving average is GBX 15.29 and its 200 day simple moving average is GBX 12.37. The company has a market capitalization of £110.33 million, a price-to-earnings ratio of -2,283.33 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.

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.

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