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 report released on Monday, MarketBeat.com reports. Berenberg Bank currently has a GBX 33 target price on the stock.

Rainbow Rare Earths Stock Performance

Rainbow Rare Earths stock opened at GBX 19.90 on Monday. The firm has a 50 day simple moving average of GBX 19.36 and a 200-day simple moving average of GBX 15.44. The stock has a market cap of £128.21 million, a price-to-earnings ratio of -40.61 and a beta of 2.25. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. Rainbow Rare Earths has a 1-year low of GBX 9 and a 1-year high of GBX 27.50.

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.