Rainbow Rare Earths (LON:RBW) Stock Rating Reaffirmed as Buy by Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating restated by Berenberg Bank in a note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 52 price objective on the stock. Berenberg Bank’s target price indicates a potential upside of 160.00% from the stock’s current price.

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 39 price target 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 40.33.

Rainbow Rare Earths Trading Down 5.9%

RBW stock traded down GBX 1.25 during midday trading on Wednesday, reaching GBX 20. The company’s stock had a trading volume of 2,011,084 shares, compared to its average volume of 945,154. Rainbow Rare Earths has a 52 week low of GBX 15.50 and a 52 week high of GBX 30. The stock has a market cap of £140.48 million, a PE ratio of -18.35 and a beta of 0.46. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. The business’s 50-day simple moving average is GBX 23.26 and its 200-day simple moving average is GBX 23.60.

Insider Transactions at Rainbow Rare Earths

In other news, insider Alexander Lowrie acquired 95,555 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of GBX 25 per share, for a total transaction of £23,888.75. Also, insider George Bennett sold 550,000 shares of Rainbow Rare Earths stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Insiders own 23.30% of the company’s stock.

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.