Rainbow Rare Earths (LON:RBW) Stock Price Down 0.5% – Here’s What Happened

Shares of Rainbow Rare Earths Limited (LON:RBW) fell 0.5% on Wednesday . The company traded as low as GBX 18.50 and last traded at GBX 18.90. 1,043,882 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 723,372 shares. The stock had previously closed at GBX 19.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 33 target price on shares of Rainbow Rare Earths in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 33.

Rainbow Rare Earths Price Performance

The firm has a market cap of £121.77 million, a price-to-earnings ratio of -38.57 and a beta of 2.25. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The business’s 50-day simple moving average is GBX 18.17 and its two-hundred day simple moving average is GBX 17.55.

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.