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

Berenberg Bank reaffirmed their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research note published on Tuesday morning, Marketbeat Ratings reports. Berenberg Bank currently has a GBX 35 ($0.47) price objective on the stock.

Rainbow Rare Earths Price Performance

RBW stock opened at GBX 11 ($0.15) on Tuesday. The stock’s 50 day moving average price is GBX 11.22 and its 200 day moving average price is GBX 11.34. The firm has a market cap of £88.94 million, a P/E ratio of -21,000.38 and a beta of 2.25. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. Rainbow Rare Earths has a 1 year low of GBX 8.50 ($0.11) and a 1 year high of GBX 13 ($0.17).

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. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil.