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

Rainbow Rare Earths (LON:RBW – Get Free Report)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report released on Thursday, MarketBeat.com reports. They presently have a GBX 52 target price on the stock. Berenberg Bank’s target price points to a potential upside of 116.67% from the stock’s current price.

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 39 price target on shares of Rainbow Rare Earths in a research report on Thursday. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 40.33.

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Rainbow Rare Earths Trading Up 4.3%

Shares of LON RBW opened at GBX 24 on Thursday. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. The business has a fifty day simple moving average of GBX 23.21 and a two-hundred day simple moving average of GBX 23.83. The firm has a market cap of £167.93 million, a PE ratio of -22.02 and a beta of 0.46. Rainbow Rare Earths has a twelve month low of GBX 15.50 and a twelve month high of GBX 30.

Insider Activity at Rainbow Rare Earths

In other Rainbow Rare Earths news, insider Alexander Lowrie acquired 95,555 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of GBX 25 per share, with a total value of £23,888.75. Also, insider George Bennett sold 550,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total transaction of £115,500. Company insiders own 23.39% of the company’s stock.

Rainbow Rare Earths Company Profile

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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 and other advanced future-facing technologies.

It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.

The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.

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