Rainbow Rare Earths (LON:RBW) Sets New 52-Week High - Still a Buy?

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) hit a new 52-week high on Monday . The company traded as high as GBX 14.50 ($0.19) and last traded at GBX 13.80 ($0.19), with a volume of 498243 shares trading hands. The stock had previously closed at GBX 13.80 ($0.19).

Wall Street Analyst Weigh In

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

Rainbow Rare Earths Stock Performance

The firm has a market cap of £111.58 million, a P/E ratio of -26,345.93 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 company has a 50 day moving average of GBX 11.48 and a 200 day moving average of GBX 11.29.

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.

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