Insider Buying: Rainbow Rare Earths (LON:RBW) Insider Acquires £23,888.75 in Stock

Rainbow Rare Earths Limited (LON:RBW) insider Alexander Lowrie acquired 95,555 shares of Rainbow Rare Earths stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of GBX 25 per share, for a total transaction of £23,888.75.

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock traded up GBX 0.37 during midday trading on Friday, reaching GBX 24.67. The company’s stock had a trading volume of 914,636 shares, compared to its average volume of 998,787. Rainbow Rare Earths Limited has a 52 week low of GBX 14 and a 52 week high of GBX 30. 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 business has a 50-day moving average price of GBX 22.21 and a 200-day moving average price of GBX 22.90. The stock has a market cap of £172.60 million, a PE ratio of -22.63 and a beta of 0.46.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Berenberg Bank restated a “buy” rating and issued a GBX 52 price target on shares of Rainbow Rare Earths in a research note on Wednesday, July 1st. Canaccord Genuity Group upgraded shares of Rainbow Rare Earths to a “speculative buy” rating and upped their price objective for the stock from GBX 22 to GBX 39 in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 40.33.

About Rainbow Rare Earths

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.