Rainbow Rare Earths (LON:RBW – Get Free Report)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday, Digital Look reports. They currently have a GBX 52 target price on the stock. Berenberg Bank’s price objective points to a potential upside of 151.21% from the company’s current price.
Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 39 target price on shares of Rainbow Rare Earths in a research note on Thursday, September 24th. Three equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 40.33.
View Our Latest Research Report on Rainbow Rare Earths
Rainbow Rare Earths Price Performance
LON RBW opened at GBX 20.70 on Wednesday. Rainbow Rare Earths has a twelve month low of GBX 15.50 and a twelve month high of GBX 30. The stock has a market capitalization of £145.39 million, a PE ratio of -18.99 and a beta of 0.46. The stock has a 50-day simple moving average of GBX 23.26 and a 200 day simple moving average of GBX 23.60. The company has a debt-to-equity ratio of 9.83, a quick ratio of 3.79 and a current ratio of 1.22.
Insider Buying and Selling
In other Rainbow Rare Earths news, insider George Bennett sold 550,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total transaction of £115,500. Also, insider Alexander Lowrie bought 95,555 shares of Rainbow Rare Earths stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of GBX 25 per share, for a total transaction of £23,888.75. Corporate insiders own 23.30% of the company’s stock.
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.
The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.
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