Rainbow Rare Earths (LON:RBW) Stock Price Down 1.7%

Rainbow Rare Earths Ltd (LON:RBW)’s share price dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as GBX 2.81 ($0.04) and last traded at GBX 2.85 ($0.04), approximately 1,481,602 shares changed hands during mid-day trading. An increase of 312% from the average daily volume of 359,313 shares. The stock had previously closed at GBX 2.90 ($0.04).

Separately, Align Research initiated coverage on Rainbow Rare Earths in a research note on Friday, June 7th. They issued a “conviction-buy” rating and a GBX 11 ($0.14) price objective for the company.

The firm has a market cap of $6.27 million and a PE ratio of -1.00. The firm has a fifty day moving average of GBX 4.51. The company has a debt-to-equity ratio of 10.28, a current ratio of 0.28 and a quick ratio of 0.10.

In other Rainbow Rare Earths news, insider Adonis Pouroulis purchased 500,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of GBX 10 ($0.13) per share, for a total transaction of £50,000 ($65,333.86).

About Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths Limited, a mining company, engages in the exploration, evaluation, development, and production of rare earth properties. It primarily holds a 90% interest in the Gakara project covering an area of approximately 135 km2 located in Western Burundi. The company was founded in 2011 and is headquartered in London, the United Kingdom.

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