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

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reiterated by Berenberg Bank in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 38 ($0.50) target price on the stock. Berenberg Bank’s target price would indicate a potential upside of 280.95% from the company’s current price.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 21 ($0.27) target price on shares of Rainbow Rare Earths in a research report on Wednesday, June 19th.

Rainbow Rare Earths Stock Performance

LON RBW opened at GBX 9.98 ($0.13) on Wednesday. The company has a debt-to-equity ratio of 3.90, a current ratio of 2.66 and a quick ratio of 3.79. The company’s fifty day moving average is GBX 10.71 and its two-hundred day moving average is GBX 10.82. Rainbow Rare Earths has a 52-week low of GBX 9.10 ($0.12) and a 52-week high of GBX 17.50 ($0.23). The firm has a market capitalization of £63.92 million, a price-to-earnings ratio of -498.75 and a beta of 2.23.

About Rainbow Rare Earths

Rainbow Rare Earths Limited engages in the mining and exploration of rare earth minerals. It explores for neodymium, dysprosium, terbium, and praseodymium deposits. The company holds 90% interest in the Gakara project covering an area of approximately 135 square kilometers located in Western Burundi.