Rainbow Rare Earths (LON:RBW) Stock Keeps Buy Rating at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a GBX 52 price objective on the stock. Berenberg Bank’s target price points to a potential upside of 116.67% from the company’s current price.

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

Rainbow Rare Earths Stock Performance

LON RBW remained flat at GBX 24 during trading hours on Thursday. The company had a trading volume of 1,471,855 shares, compared to its average volume of 975,982. The firm has a fifty day moving average of GBX 23.27 and a 200-day moving average of GBX 23.82. Rainbow Rare Earths has a fifty-two week low of GBX 15.50 and a fifty-two week high of GBX 30. The stock has a market cap of £167.93 million, a price-to-earnings ratio of -22.02 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.

Insider Transactions at Rainbow Rare Earths

In other Rainbow Rare Earths news, insider Alexander Lowrie bought 95,555 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of GBX 25 per share, for a total transaction of £23,888.75. Also, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total transaction of £115,500. 23.39% of the stock is owned by company 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.