Rainbow Rare Earths (LON:RBW) Stock Price Up 7.3% – Here’s What Happened

Shares of Rainbow Rare Earths Limited (LON:RBW) traded up 7.3% during mid-day trading on Tuesday . The stock traded as high as GBX 21.50 and last traded at GBX 21. 1,349,780 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 1,044,741 shares. The stock had previously closed at GBX 19.58.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 33 target price on shares of Rainbow Rare Earths in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 33.

Rainbow Rare Earths Stock Down 0.4%

The firm has a market capitalization of £131.59 million, a price-to-earnings ratio of -41.68 and a beta of 2.25. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. The business’s 50 day moving average is GBX 18.94 and its 200-day moving average is GBX 15.15.

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.