Rainbow Rare Earths Limited (LON:RBW – Get Free Report) shares fell 1.2% during trading on Wednesday . The company traded as low as GBX 21.50 and last traded at GBX 21.73. 309,329 shares traded hands during trading, a decline of 71% from the average session volume of 1,053,276 shares. The stock had previously closed at GBX 22.
Analyst Ratings Changes
RBW has been the subject of a number of research analyst reports. Canaccord Genuity Group raised Rainbow Rare Earths to a “speculative buy” rating and raised their price target for the stock from GBX 22 to GBX 39 in a research note on Tuesday, May 12th. Berenberg Bank reiterated a “buy” rating and set a GBX 52 target price on shares of Rainbow Rare Earths in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 40.33.
Check Out Our Latest Stock Report on RBW
Rainbow Rare Earths Trading Down 1.2%
Rainbow Rare Earths Company Profile
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 and other advanced future-facing technologies.
It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.
The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.
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