Rainbow Rare Earths’ (RBW) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 34 target price on the stock.

Separately, Stifel Nicolaus reissued a “buy” rating and set a GBX 30 target price on shares of Rainbow Rare Earths in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rainbow Rare Earths presently has an average rating of “Buy” and a consensus target price of GBX 32.

Rainbow Rare Earths Stock Performance

Shares of LON:RBW opened at GBX 27.70 on Wednesday. The company has a 50 day moving average of GBX 19.42 and a 200-day moving average of GBX 18.71. The company has a current ratio of 2.66, a quick ratio of 3.79 and a debt-to-equity ratio of 5.16. The firm has a market cap of £178.46 million, a P/E ratio of -56.53 and a beta of 0.53. Rainbow Rare Earths has a twelve month low of GBX 9 and a twelve month high of GBX 29.50.

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.