Rainbow Rare Earths (LON:RBW) Trading 11.4% Higher – Still a Buy?

Shares of Rainbow Rare Earths Limited (LON:RBW) traded up 11.4% during mid-day trading on Tuesday . The company traded as high as GBX 24 and last traded at GBX 23.85. 1,226,461 shares changed hands during trading, a decline of 9% from the average session volume of 1,345,670 shares. The stock had previously closed at GBX 21.40.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RBW. Stifel Nicolaus restated a “buy” rating and issued a GBX 30 price target on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Berenberg Bank reiterated a “buy” rating and set a GBX 34 price objective on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Rainbow Rare Earths presently has an average rating of “Buy” and an average target price of GBX 32.

Rainbow Rare Earths Stock Up 11.4%

The stock’s fifty day moving average price is GBX 20.85 and its 200-day moving average price is GBX 19.38. The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 5.16. The company has a market capitalization of £153.66 million, a price-to-earnings ratio of -48.67 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.