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

Berenberg Bank reiterated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a GBX 34 ($0.46) price target on the stock.

Rainbow Rare Earths Price Performance

Shares of Rainbow Rare Earths stock opened at GBX 13.30 ($0.18) on Thursday. The stock has a 50 day moving average of GBX 11.30 and a 200 day moving average of GBX 11.25. Rainbow Rare Earths has a 12 month low of GBX 8.50 ($0.11) and a 12 month high of GBX 14.50 ($0.20). The firm has a market cap of £107.54 million, a PE ratio of -25,391.37 and a beta of 2.25. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34.

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.