Rainbow Rare Earths (LON:RBW) Earns Buy Rating from Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by Berenberg Bank in a research report issued to clients and investors on Wednesday, Digital Look reports. They presently have a GBX 52 price objective on the stock. Berenberg Bank’s price objective would indicate a potential upside of 146.45% from the company’s previous close.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 39 target price on shares of Rainbow Rare Earths in a report on Thursday, September 24th. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 40.33.

Rainbow Rare Earths Trading Down 0.7%

LON RBW opened at GBX 21.10 on Wednesday. The stock has a 50-day simple moving average of GBX 23.32 and a 200 day simple moving average of GBX 23.62. The company has a market capitalization of £148.20 million, a PE ratio of -19.36 and a beta of 0.46. The company has a current ratio of 1.22, a quick ratio of 3.79 and a debt-to-equity ratio of 9.83. Rainbow Rare Earths has a 12 month low of GBX 15.50 and a 12 month high of GBX 30.

Insider Buying and Selling

In other Rainbow Rare Earths news, insider George Bennett sold 550,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie bought 95,555 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of GBX 25 per share, for a total transaction of £23,888.75. 23.30% of the stock is currently owned by insiders.

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 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.