Rainbow Rare Earths (LON:RBW) Stock Price Down 1.3% – Here’s What Happened

Rainbow Rare Earths Limited (LON:RBW) shares traded down 1.3% during mid-day trading on Wednesday. The company traded as low as GBX 18.50 and last traded at GBX 19. Approximately 99,529 shares changed hands during trading, a decline of 89% from the average session volume of 906,633 shares. The stock had previously closed at GBX 19.25.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RBW shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 52 target price on shares of Rainbow Rare Earths in a report on Wednesday, October 21st. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 39 price objective on shares of Rainbow Rare Earths in a research report on Thursday, September 24th. Three analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Trading Down 1.3%

The company has a 50 day simple moving average of GBX 21.94 and a 200 day simple moving average of GBX 22.78. The company has a current ratio of 6.98, a quick ratio of 3.79 and a debt-to-equity ratio of 55.65. The stock has a market capitalization of £133.45 million, a PE ratio of -16.67 and a beta of 0.46.

Insider Activity at Rainbow Rare Earths

In other news, insider George Bennett sold 550,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie purchased 95,555 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of GBX 25 per share, with a total value of £23,888.75. Company insiders own 23.30% of the company’s stock.

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 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.