Rainbow Rare Earths (LON:RBW) Upgraded at Canaccord Genuity Group

Rainbow Rare Earths (LON:RBW) was upgraded by equities researchers at Canaccord Genuity Group to a “speculative buy” rating in a note issued to investors on Tuesday,Digital Look reports. The brokerage presently has a GBX 39 price target on the stock, up from their previous price target of GBX 22. Canaccord Genuity Group’s price objective would indicate a potential upside of 47.17% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 30 target price on shares of Rainbow Rare Earths in a research note on Wednesday, March 11th. 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, March 11th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rainbow Rare Earths currently has an average rating of “Buy” and a consensus target price of GBX 34.33.

Rainbow Rare Earths Stock Down 1.9%

Shares of Rainbow Rare Earths stock traded down GBX 0.50 during midday trading on Tuesday, hitting GBX 26.50. The company had a trading volume of 705,839 shares, compared to its average volume of 1,288,982. Rainbow Rare Earths has a 52-week low of GBX 10.50 and a 52-week high of GBX 30. The company has a debt-to-equity ratio of 9.83, a quick ratio of 3.79 and a current ratio of 1.22. The stock has a market capitalization of £185.42 million, a P/E ratio of -24.31 and a beta of 0.46. The company has a 50 day moving average of GBX 24.54 and a 200 day moving average of GBX 20.64.

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. 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.