Berenberg Bank Reaffirms “Buy” Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW – Get Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at Berenberg Bank in a note issued to investors on Monday, Digital Look reports. They presently have a GBX 52 target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 116.67% from the stock’s previous close.

Separately, Canaccord Genuity Group upgraded Rainbow Rare Earths to a “speculative buy” rating and increased their price target for the stock from GBX 22 to GBX 39 in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 40.33.

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Rainbow Rare Earths Stock Up 1.3%

Shares of LON:RBW opened at GBX 24 on Monday. The business’s 50-day moving average is GBX 22.70 and its 200-day moving average is GBX 23.54. Rainbow Rare Earths has a 1 year low of GBX 15 and a 1 year high of GBX 30. The company has a market capitalization of £167.93 million, a price-to-earnings ratio of -22.02 and a beta of 0.46. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79.

Insider Buying and Selling at Rainbow Rare Earths

In other Rainbow Rare Earths news, insider Alexander Lowrie acquired 95,555 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of GBX 25 per share, for a total transaction of £23,888.75. Also, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were 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

(Get Free Report)

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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