Rainbow Rare Earths (LON:RBW) Trading Down 2.3% - Here's What Happened

Rainbow Rare Earths Limited (LON:RBW - Get Free Report)'s stock price fell 2.3% during mid-day trading on Thursday . The company traded as low as GBX 10.75 ($0.15) and last traded at GBX 10.75 ($0.15). 296,342 shares were traded during mid-day trading, a decline of 49% from the average session volume of 585,553 shares. The stock had previously closed at GBX 11 ($0.15).

Rainbow Rare Earths Price Performance

The company has a market capitalization of £92.78 million, a P/E ratio of -21,907.22 and a beta of 2.25. 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 has a 50 day moving average price of GBX 10.95 and a 200 day moving average price of GBX 11.34.

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.