Rainbow Rare Earths (LON:RBW) Shares Down 1.3% – Here’s Why

Shares of Rainbow Rare Earths Limited (LON:RBW) fell 1.3% on Wednesday. The company traded as low as GBX 18.50 and last traded at GBX 19. 99,529 shares were traded during trading, a decline of 89% from the average session volume of 906,633 shares. The stock had previously closed at GBX 19.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RBW shares. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 39 price target on shares of Rainbow Rare Earths in a research report on Thursday, September 24th. Berenberg Bank reissued a “buy” rating and issued a GBX 52 price target on shares of Rainbow Rare Earths in a report on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 40.33.

Rainbow Rare Earths Price Performance

The company has a quick ratio of 3.79, a current ratio of 6.98 and a debt-to-equity ratio of 55.65. The business’s 50-day simple moving average is GBX 21.84 and its 200 day simple moving average is GBX 22.78. The firm has a market capitalization of £133.45 million, a P/E ratio of -16.67 and a beta of 0.46.

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.