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

Berenberg Bank reaffirmed their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research note issued to investors on Monday morning,Digital Look reports. They currently have a GBX 52 target price on the stock.

Separately, Canaccord Genuity Group raised shares of Rainbow Rare Earths to a “speculative buy” rating and raised their price objective for the stock from GBX 22 to GBX 39 in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Stock Up 2.7%

Shares of LON RBW opened at GBX 24.14 on Monday. The business has a 50-day moving average of GBX 22.85 and a two-hundred day moving average of GBX 23.64. The company has a market capitalization of £168.91 million, a price-to-earnings ratio of -22.15 and a beta of 0.46. Rainbow Rare Earths has a 1 year low of GBX 15 and a 1 year high of GBX 30. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79.

Insider Transactions at Rainbow Rare Earths

In other news, insider Alexander Lowrie purchased 95,555 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of GBX 25 per share, for a total transaction of £23,888.75. Also, insider George Bennett sold 550,000 shares of Rainbow Rare Earths stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total value of £115,500. 23.39% of the stock is owned by corporate insiders.

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 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.