Rainbow Rare Earths (LON:RBW) Given Buy Rating at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. They presently have a GBX 52 price target on the stock. Berenberg Bank’s target price suggests a potential upside of 136.36% from the company’s current price.

Several other analysts have also issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a GBX 30 target price on shares of Rainbow Rare Earths in a research note on Wednesday, March 11th. Canaccord Genuity Group upgraded Rainbow Rare Earths to a “speculative buy” rating and increased their price target for the stock from GBX 22 to GBX 39 in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 40.33.

Rainbow Rare Earths Trading Up 2.3%

LON:RBW opened at GBX 22 on Wednesday. Rainbow Rare Earths has a 12 month low of GBX 10.50 and a 12 month high of GBX 30. The company has a current ratio of 1.22, a quick ratio of 3.79 and a debt-to-equity ratio of 9.83. The firm’s 50 day moving average is GBX 24.97 and its 200 day moving average is GBX 21.95. The stock has a market capitalization of £153.93 million, a PE ratio of -20.18 and a beta of 0.46.

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 and other advanced future-facing technologies.

It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.

The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.