Rainbow Rare Earths (LON:RBW) Trading 1.6% Higher – Time to Buy?

Rainbow Rare Earths Limited (LON:RBW)’s stock price shot up 1.6% during trading on Monday . The company traded as high as GBX 12.50 ($0.16) and last traded at GBX 12.50 ($0.16). 86,655 shares were traded during mid-day trading, a decline of 24% from the average session volume of 113,584 shares. The stock had previously closed at GBX 12.30 ($0.15).

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBW. Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.48) price objective on shares of Rainbow Rare Earths in a research report on Friday, December 13th. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 21 ($0.26) price objective on shares of Rainbow Rare Earths in a research report on Wednesday, September 18th.

Rainbow Rare Earths Stock Up 1.6 %

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 stock’s 50 day simple moving average is GBX 12.02 and its 200 day simple moving average is GBX 11.15. The firm has a market cap of £80.46 million, a P/E ratio of -625.00 and a beta of 2.25.

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.