Rainbow Rare Earths (LON:RBW) Sets New 1-Year High – Here’s Why

Rainbow Rare Earths Limited (LON:RBW) shares reached a new 52-week high on Thursday . The company traded as high as GBX 29.50 and last traded at GBX 29.07, with a volume of 11236651 shares trading hands. The stock had previously closed at GBX 27.70.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RBW shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 34 price objective on shares of Rainbow Rare Earths in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 30 price target on shares of Rainbow Rare Earths in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rainbow Rare Earths presently has an average rating of “Buy” and an average price target of GBX 32.

Rainbow Rare Earths Price Performance

The business’s 50 day moving average is GBX 19.42 and its two-hundred day moving average is GBX 18.71. The company has a debt-to-equity ratio of 5.16, a quick ratio of 3.79 and a current ratio of 2.66. The firm has a market capitalization of £187.29 million, a PE ratio of -59.33 and a beta of 0.53.

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.