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

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research note issued on Monday,Digital Look reports. They currently have a GBX 33 price target on the stock. Berenberg Bank’s price target points to a potential upside of 63.77% from the company’s current price.

Rainbow Rare Earths Stock Up 3.3%

RBW stock traded up GBX 0.65 during midday trading on Monday, hitting GBX 20.15. The stock had a trading volume of 659,988 shares, compared to its average volume of 1,043,493. The business has a 50-day moving average of GBX 19.11 and a two-hundred day moving average of GBX 15.29. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The firm has a market cap of £129.82 million, a price-to-earnings ratio of -41.12 and a beta of 2.25. Rainbow Rare Earths has a 52-week low of GBX 9 and a 52-week high of GBX 27.50.

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.