Rainbow Rare Earths (LON:RBW) Stock Price Up 3.3% – What’s Next?

Rainbow Rare Earths Limited (LON:RBW) shares traded up 3.3% during mid-day trading on Monday . The company traded as high as GBX 18 and last traded at GBX 18. 401,378 shares were traded during trading, a decline of 60% from the average session volume of 1,005,713 shares. The stock had previously closed at GBX 17.43.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and set a GBX 33 price target on shares of Rainbow Rare Earths in a report on Monday, November 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 33.

Rainbow Rare Earths Trading Up 3.3%

The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The firm has a fifty day simple moving average of GBX 19.39 and a 200-day simple moving average of GBX 16.10. The firm has a market cap of £115.97 million, a P/E ratio of -36.73 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.