Insider Buying: Rainbow Rare Earths (LON:RBW) Insider Acquires £23,888.75 in Stock

Rainbow Rare Earths Limited (LON:RBW) insider Alexander Lowrie purchased 95,555 shares of Rainbow Rare Earths stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of GBX 25 per share, for a total transaction of £23,888.75.

Rainbow Rare Earths Trading Up 1.5%

Shares of Rainbow Rare Earths stock traded up GBX 0.37 on Friday, hitting GBX 24.67. The stock had a trading volume of 914,636 shares, compared to its average volume of 998,787. The stock has a 50 day moving average of GBX 22.21 and a 200 day moving average of GBX 22.90. Rainbow Rare Earths Limited has a twelve month low of GBX 14 and a twelve month high of GBX 30. The company has a debt-to-equity ratio of 9.83, a quick ratio of 3.79 and a current ratio of 1.22. The firm has a market capitalization of £172.60 million, a P/E ratio of -22.63 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. 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 report on Tuesday, May 12th. Berenberg Bank reiterated a “buy” rating and set a GBX 52 price target on shares of Rainbow Rare Earths in a report on Wednesday, July 1st. 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 a consensus target price of GBX 40.33.

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.