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

Rainbow Rare Earths (LON:RBW)‘s stock had its “speculative buy” rating reissued by equities researchers at Canaccord Genuity Group in a research note issued on Thursday, London Stock Exchange reports. They currently have a GBX 39 price target on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 71.96% from the company’s current price.

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 52 target price on shares of Rainbow Rare Earths in a research report on Monday, September 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Price Performance

LON RBW opened at GBX 22.68 on Thursday. Rainbow Rare Earths has a 1 year low of GBX 15.50 and a 1 year high of GBX 30. The company has a fifty day simple moving average of GBX 23.15 and a 200 day simple moving average of GBX 23.83. The company has a current ratio of 1.22, a quick ratio of 3.79 and a debt-to-equity ratio of 9.83. The company has a market cap of £158.69 million, a P/E ratio of -20.81 and a beta of 0.46.

Insider Activity at Rainbow Rare Earths

In other news, insider George Bennett sold 550,000 shares of the stock in a transaction that occurred 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 purchased 95,555 shares of the stock in a transaction on Thursday, August 13th. The stock was bought at an average price of GBX 25 per share, for a total transaction of £23,888.75. Corporate insiders own 23.39% of the company’s stock.

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.