Rainbow Rare Earths (LON:RBW) Stock Price Up 1.7% – Time to Buy?

Rainbow Rare Earths Limited (LON:RBW)’s share price shot up 1.7% on Monday . The company traded as high as GBX 17.50 and last traded at GBX 17.50. 236,620 shares were traded during trading, a decline of 49% from the average session volume of 464,604 shares. The stock had previously closed at GBX 17.20.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 33 price target on shares of Rainbow Rare Earths in a report on Monday, November 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 33.

Rainbow Rare Earths Trading Up 1.7%

The business has a fifty day simple moving average of GBX 18.41 and a 200-day simple moving average of GBX 16.75. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. The firm has a market cap of £112.75 million, a price-to-earnings ratio of -35.71 and a beta of 2.25.

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. 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.