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

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reiterated by investment analysts at Berenberg Bank in a report issued on Monday, Marketbeat Ratings reports. They currently have a GBX 34 price objective on the stock. Berenberg Bank’s price target suggests a potential upside of 89.94% from the stock’s current price.

Rainbow Rare Earths Stock Performance

Shares of RBW stock opened at GBX 17.90 on Monday. The company’s fifty day simple moving average is GBX 15.46 and its 200-day simple moving average is GBX 12.47. Rainbow Rare Earths has a 52 week low of GBX 8.50 and a 52 week high of GBX 18.50. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The company has a market cap of £115.32 million, a PE ratio of -2,386.67 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.