Rainbow Rare Earths (LON:RBW) Stock Price Up 11.4% – What’s Next?

Rainbow Rare Earths Limited (LON:RBW) shares were up 11.4% during mid-day trading on Tuesday . The company traded as high as GBX 24 and last traded at GBX 23.85. Approximately 1,226,461 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 1,345,670 shares. The stock had previously closed at GBX 21.40.

Wall Street Analyst Weigh In

RBW has been the topic of a number of research reports. Berenberg Bank reissued a “buy” rating and set a GBX 34 price objective on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 30 target price on shares of Rainbow Rare Earths in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Rainbow Rare Earths currently has a consensus rating of “Buy” and an average target price of GBX 32.

Rainbow Rare Earths Price Performance

The firm’s 50 day simple moving average is GBX 21.06 and its two-hundred day simple moving average is GBX 19.46. The company has a debt-to-equity ratio of 5.16, a current ratio of 2.66 and a quick ratio of 3.79. The firm has a market capitalization of £154.63 million, a P/E ratio of -48.98 and a beta of 0.53.

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.