Rainbow Rare Earths (LON:RBW) Shares Down 1.3% - Here's Why

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) was down 1.3% on Tuesday . The company traded as low as GBX 11 ($0.15) and last traded at GBX 11.10 ($0.15). Approximately 703,946 shares traded hands during trading, an increase of 25% from the average daily volume of 564,690 shares. The stock had previously closed at GBX 11.25 ($0.15).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and set a GBX 35 ($0.48) price objective on shares of Rainbow Rare Earths in a research note on Tuesday, June 17th.

Rainbow Rare Earths Trading Down 1.3%

The business has a 50 day simple moving average of GBX 11.27 and a two-hundred day simple moving average of GBX 11.24. 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 stock has a market cap of £89.75 million, a price-to-earnings ratio of -21,191.29 and a beta of 2.25.

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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