Rainbow Rare Earths (LON:RBW) Sets New 1-Year High - What's Next?

Rainbow Rare Earths Limited (LON:RBW - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 14.50 ($0.20) and last traded at GBX 13.80 ($0.19), with a volume of 498243 shares traded. The stock had previously closed at GBX 13.80 ($0.19).

Analyst Ratings Changes

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

Rainbow Rare Earths Price Performance

The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The company's fifty day moving average is GBX 11.66 and its two-hundred day moving average is GBX 11.34. The stock has a market cap of £107.54 million, a price-to-earnings ratio of -25,391.37 and a beta of 2.25.

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.