Rainbow Rare Earths (LON:RBW) Trading Down 1.5% – Here’s Why

Shares of Rainbow Rare Earths Limited (LON:RBW) traded down 1.5% during mid-day trading on Tuesday . The company traded as low as GBX 12.02 ($0.15) and last traded at GBX 12.07 ($0.15). 1,829,978 shares were traded during trading, an increase of 236% from the average session volume of 545,149 shares. The stock had previously closed at GBX 12.25 ($0.15).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 38 ($0.47) price objective on shares of Rainbow Rare Earths in a research note on Friday, December 13th.

Rainbow Rare Earths Trading Down 1.5 %

The company has a market cap of £77.67 million, a price-to-earnings ratio of -603.35 and a beta of 2.25. The company has a debt-to-equity ratio of 3.90, a quick ratio of 3.79 and a current ratio of 2.66. The business’s 50 day moving average price is GBX 12.04 and its 200-day moving average price is GBX 11.33.

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.