Rainbow Rare Earths’ (RBW) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rainbow Rare Earths (LON:RBW – Free Report) in a report issued on Thursday morning, MarketBeat reports. Berenberg Bank currently has a GBX 52 target price on the stock.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 39 price objective on shares of Rainbow Rare Earths in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rainbow Rare Earths presently has an average rating of “Buy” and an average target price of GBX 40.33.

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Rainbow Rare Earths Stock Up 4.3%

RBW opened at GBX 24 on Thursday. Rainbow Rare Earths has a 52 week low of GBX 15.50 and a 52 week high of GBX 30. The business has a 50 day moving average price of GBX 23.21 and a two-hundred day moving average price of GBX 23.83. 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 company has a market cap of £167.93 million, a PE ratio of -22.02 and a beta of 0.46.

Insider Buying and Selling at Rainbow Rare Earths

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