Rainbow Rare Earths (LON:RBW) Given Buy Rating at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a research note issued on Wednesday, Digital Look reports. They presently have a GBX 52 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 160.00% from the company’s previous close.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 39 price objective on shares of Rainbow Rare Earths in a report on Thursday, September 24th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 40.33.

Rainbow Rare Earths Stock Down 5.9%

Rainbow Rare Earths stock opened at GBX 20 on Wednesday. The stock has a market cap of £140.48 million, a P/E 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. Rainbow Rare Earths has a twelve month low of GBX 15.50 and a twelve month high of GBX 30. The company’s 50-day moving average price is GBX 23.26 and its two-hundred day moving average price is GBX 23.60.

Insiders Place Their Bets

In other Rainbow Rare Earths news, insider Alexander Lowrie purchased 95,555 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were 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 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 transaction of £115,500. 23.30% of the stock is currently owned by company insiders.

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.