Rainbow Rare Earths (LON:RBW) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reissued their speculative buy rating on shares of Rainbow Rare Earths (LON:RBW) in a report released on Wednesday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a GBX 21 ($0.28) target price on the stock.

Separately, Berenberg Bank reaffirmed a buy rating and issued a GBX 38 ($0.50) price objective on shares of Rainbow Rare Earths in a research note on Wednesday, September 11th.

Rainbow Rare Earths Price Performance

Shares of RBW opened at GBX 8.80 ($0.12) on Wednesday. The business’s fifty day moving average is GBX 10.51 and its 200 day moving average is GBX 10.70. Rainbow Rare Earths has a 12-month low of GBX 8.50 ($0.11) and a 12-month high of GBX 17 ($0.22). The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 3.90. The stock has a market cap of £56.64 million, a P/E ratio of -440.00 and a beta of 2.25.

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.