Canaccord Genuity Group Reaffirms “Speculative Buy” Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “speculative buy” rating reissued by equities research analysts at Canaccord Genuity Group in a report released on Thursday, September 24th, Marketbeat.com reports. They currently have a GBX 39 target price on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 65.25% from the company’s current price.

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 52 price objective on shares of Rainbow Rare Earths in a report on Monday, September 7th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Trading Up 0.4%

Shares of LON RBW traded up GBX 0.10 during midday trading on Thursday, hitting GBX 23.60. The stock had a trading volume of 395,190 shares, compared to its average volume of 957,094. The firm has a market cap of £165.13 million, a P/E ratio of -21.65 and a beta of 0.46. Rainbow Rare Earths has a fifty-two week low of GBX 15.50 and a fifty-two week high of GBX 30. 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’s 50-day simple moving average is GBX 23.33 and its 200 day simple moving average is GBX 23.75.

Insider Buying and Selling

In other Rainbow Rare Earths news, insider George Bennett sold 550,000 shares of Rainbow Rare Earths stock in a transaction on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total value of £115,500. Also, insider Alexander Lowrie bought 95,555 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of GBX 25 per share, with a total value of £23,888.75. Corporate insiders own 23.39% of the company’s stock.

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 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.