Canaccord Genuity Group Reaffirms Speculative Buy Rating for Rainbow Rare Earths (LON:RBW)

Canaccord Genuity Group reiterated their speculative buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research note published on Tuesday morning, MarketBeat reports. They currently have a GBX 21 ($0.26) target price on the stock.

Separately, Berenberg Bank reiterated a buy rating and set a GBX 38 ($0.47) price target on shares of Rainbow Rare Earths in a research report on Thursday, March 28th.

Rainbow Rare Earths Price Performance

Shares of LON RBW opened at GBX 9.80 ($0.12) on Tuesday. Rainbow Rare Earths has a 1 year low of GBX 7.02 ($0.09) and a 1 year high of GBX 18 ($0.22). The company has a debt-to-equity ratio of 4.33, a current ratio of 6.24 and a quick ratio of 3.79. The company’s 50-day moving average is GBX 10.75 and its 200 day moving average is GBX 12.91. The stock has a market capitalization of £61.77 million, a P/E ratio of -493.00 and a beta of 1.56.

About Rainbow Rare Earths

Rainbow Rare Earths Limited engages in the mining and exploration of rare earth minerals. It explores for neodymium, dysprosium, terbium, and praseodymium deposits. The company holds 90% interest in the Gakara project covering an area of approximately 135 square kilometers located in Western Burundi.