Berenberg Bank Reaffirms Buy Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by Berenberg Bank in a research note issued to investors on Thursday, MarketBeat reports. They currently have a GBX 52 target price on the stock. Berenberg Bank’s price objective suggests a potential upside of 116.67% from the company’s current price.

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 39 price target on shares of Rainbow Rare Earths in a report on Thursday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Stock Up 4.3%

Shares of RBW stock opened at GBX 24 on Thursday. The stock has a market cap of £167.93 million, a P/E ratio of -22.02 and a beta of 0.46. Rainbow Rare Earths has a one year low of GBX 15.50 and a one year high of GBX 30. The stock has a fifty day moving average price of GBX 23.21 and a 200 day moving average price of GBX 23.83. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79.

Insider Buying and Selling

In other news, insider George Bennett sold 550,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie acquired 95,555 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of GBX 25 per share, for a total transaction of £23,888.75. 23.39% of the stock is currently owned by insiders.

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.