Insider Selling: Rainbow Rare Earths (LON:RBW) Insider Sells £115,500 in Stock

Rainbow Rare Earths Limited (LON:RBW) insider George Bennett sold 550,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total value of £115,500.

Rainbow Rare Earths Trading Up 1.5%

Rainbow Rare Earths stock traded up GBX 0.37 during trading hours on Friday, reaching GBX 24.67. The stock had a trading volume of 914,636 shares, compared to its average volume of 998,787. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79. The company has a fifty day simple moving average of GBX 22.21 and a 200-day simple moving average of GBX 22.90. The stock has a market cap of £172.60 million, a PE ratio of -22.63 and a beta of 0.46. Rainbow Rare Earths Limited has a 52 week low of GBX 14 and a 52 week high of GBX 30.

Analyst Upgrades and Downgrades

RBW has been the topic of several research reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 52 price objective on shares of Rainbow Rare Earths in a research report on Wednesday, July 1st. Canaccord Genuity Group raised Rainbow Rare Earths to a “speculative buy” rating and lifted their target price for the stock from GBX 22 to GBX 39 in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Rainbow Rare Earths presently has a consensus rating of “Buy” and an average price target of GBX 40.33.

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 and other advanced future-facing technologies.

It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.

The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.