Rainbow Rare Earths (LON:RBW) Trading 4% Higher – Time to Buy?

Rainbow Rare Earths Limited (LON:RBW)’s stock price was up 4% during mid-day trading on Friday . The stock traded as high as GBX 9.62 ($0.12) and last traded at GBX 9.62 ($0.12). Approximately 3,530,544 shares changed hands during mid-day trading, an increase of 487% from the average daily volume of 601,036 shares. The stock had previously closed at GBX 9.25 ($0.12).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 38 ($0.49) target price on shares of Rainbow Rare Earths in a research note on Friday, December 13th.

Rainbow Rare Earths Price Performance

The business has a fifty day moving average of GBX 10.92 and a 200 day moving average of GBX 11.39. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The stock has a market cap of £77.78 million, a PE ratio of -18,365.79 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.