Rainbow Rare Earths (LON:RBW) Stock Price Down 7.3%

Shares of Rainbow Rare Earths Limited (LON:RBW) dropped 7.3% during mid-day trading on Monday . The stock traded as low as GBX 11.22 ($0.14) and last traded at GBX 11.22 ($0.14). Approximately 261,897 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 489,136 shares. The stock had previously closed at GBX 12.10 ($0.15).

Wall Street Analyst Weigh In

Several research firms have commented on RBW. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 21 ($0.26) target price on shares of Rainbow Rare Earths in a research report on Tuesday, April 16th. Berenberg Bank reissued a “buy” rating and issued a GBX 38 ($0.48) price objective on shares of Rainbow Rare Earths in a research note on Thursday, March 28th.

Rainbow Rare Earths Stock Down 6.6 %

The stock has a market cap of £71.25 million, a P/E ratio of -605.00 and a beta of 1.48. The company has a current ratio of 2.66, a quick ratio of 3.79 and a debt-to-equity ratio of 3.90. The firm’s fifty day moving average is GBX 10.60 and its 200 day moving average is GBX 12.36.

About Rainbow Rare Earths

Rainbow Rare Earths Limited engages in the mining and exploration of rare earth minerals. It explores for neodymium, dysprosium, terbium, and praseodymium deposits. The company holds 90% interest in the Gakara project covering an area of approximately 135 square kilometers located in Western Burundi.