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

Berenberg Bank reiterated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research report sent to investors on Monday morning, MarketBeat.com reports. Berenberg Bank currently has a GBX 33 price target on the stock.

Rainbow Rare Earths Price Performance

Rainbow Rare Earths stock opened at GBX 20 on Monday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The business has a 50 day simple moving average of GBX 19.19 and a 200-day simple moving average of GBX 15.35. Rainbow Rare Earths has a 12 month low of GBX 9 and a 12 month high of GBX 27.50. The stock has a market capitalization of £128.85 million, a PE ratio of -40.82 and a beta of 2.25.

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.