Rainbow Rare Earths (LON:RBW) Trading 17.4% Higher - What's Next?

Key Points

• Rainbow Rare Earths Limited's share price increased by 17.4%, closing at GBX 18 ($0.24), with trading volume up by 71% from average levels.
• Berenberg Bank has reaffirmed a "buy" rating for Rainbow Rare Earths, with a target price of GBX 34, indicating a positive outlook among analysts.
• The company is focused on developing rare earth projects in South Africa and Brazil, positioning itself as a leader in the ethical supply chain for green energy transition elements.

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) shares traded up 17.4% on Monday . The company traded as high as GBX 18 ($0.24) and last traded at GBX 18 ($0.24). 1,243,443 shares were traded during trading, an increase of 71% from the average session volume of 729,218 shares. The stock had previously closed at GBX 15.33 ($0.21).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 34 price objective on shares of Rainbow Rare Earths in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Rainbow Rare Earths has a consensus rating of "Buy" and a consensus target price of GBX 34.

Rainbow Rare Earths Trading Up 12.5%

The company has a quick ratio of 3.79, a current ratio of 0.21 and a debt-to-equity ratio of 3.34. The stock has a market cap of £111.14 million, a price-to-earnings ratio of -2,300.00 and a beta of 2.25. The business's 50 day simple moving average is GBX 15.37 and its 200 day simple moving average is GBX 12.41.

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.