Rainbow Rare Earths Limited (OTCMKTS:RBWRF – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $0.31 and traded as high as $0.48. Rainbow Rare Earths shares last traded at $0.48, with a volume of 5,700 shares changing hands.
Rainbow Rare Earths Stock Up 84.6%
The firm has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.31.
About Rainbow Rare Earths
Rainbow Rare Earths Ltd. is a mineral resources company focused on the exploration, development and recovery of rare earth elements. Its principal project is the Phalaborwa Rare Earths Project in South Africa, which is designed to extract rare earths from phosphogypsum stacks, a byproduct of historical phosphate production.
The Phalaborwa project is focused particularly on producing separated neodymium and praseodymium, commonly known as NdPr. These magnet rare earth elements are used in permanent magnets for applications including electric vehicles, wind turbines, industrial motors and other advanced technologies.
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