Rainbow Rare Earths (LON:RBW) Trading 1.9% Higher – Still a Buy?

Rainbow Rare Earths Limited (LON:RBW)’s share price traded up 1.9% during trading on Tuesday . The stock traded as high as GBX 27 and last traded at GBX 26.60. 1,295,357 shares were traded during mid-day trading, a decline of 3% from the average session volume of 1,336,550 shares. The stock had previously closed at GBX 26.10.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 30 price objective on shares of Rainbow Rare Earths in a research report on Wednesday, March 11th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 34 price objective on shares of Rainbow Rare Earths in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 32.

Rainbow Rare Earths Stock Performance

The company has a current ratio of 1.22, a quick ratio of 3.79 and a debt-to-equity ratio of 9.83. The stock has a market capitalization of £171.38 million, a PE ratio of -24.40 and a beta of 0.36. The firm’s fifty day moving average price is GBX 22.67 and its two-hundred day moving average price is GBX 20.13.

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.