Rainbow Rare Earths’ (RBW) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage currently has a GBX 34 target price on the stock.

Rainbow Rare Earths Stock Performance

LON:RBW opened at GBX 17.90 on Monday. The firm has a market capitalization of £115.32 million, a PE ratio of -2,386.67 and a beta of 2.25. The business’s fifty day moving average price is GBX 15.54 and its 200 day moving average price is GBX 12.51. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. Rainbow Rare Earths has a 12 month low of GBX 9 and a 12 month high of GBX 19.

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. 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.