Rainbow Rare Earths (LON:RBW) Given Buy Rating at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has a GBX 34 price objective on the stock.

Rainbow Rare Earths Price Performance

Shares of LON:RBW opened at GBX 17.90 on Monday. 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 company has a market cap of £115.32 million, a P/E ratio of -2,386.67 and a beta of 2.25. Rainbow Rare Earths has a 52 week low of GBX 9 and a 52 week high of GBX 19. The company has a 50-day moving average price of GBX 15.54 and a 200 day moving average price of GBX 12.51.

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.