Rainbow Rare Earths (LON:RBW) Stock Price Down 7.6% – Time to Sell?

Rainbow Rare Earths Limited (LON:RBW) shares fell 7.6% on Thursday . The company traded as low as GBX 21.10 and last traded at GBX 21.25. 2,930,719 shares were traded during trading, an increase of 147% from the average session volume of 1,188,254 shares. The stock had previously closed at GBX 23.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RBW shares. Canaccord Genuity Group upgraded shares of Rainbow Rare Earths to a “speculative buy” rating and upped their price target for the company from GBX 22 to GBX 39 in a research note on Tuesday, May 12th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 30 price objective on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 34 target price on shares of Rainbow Rare Earths in a research report on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of GBX 34.33.

Rainbow Rare Earths Price Performance

The firm has a market cap of £148.68 million, a price-to-earnings ratio of -19.50 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. The company’s 50-day moving average is GBX 25.37 and its 200-day moving average is GBX 21.74.

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.