Rainbow Rare Earths (LON:RBW) Trading Up 5.5% – What’s Next?

Shares of Rainbow Rare Earths Limited (LON:RBW) rose 5.5% during trading on Wednesday . The stock traded as high as GBX 23.40 and last traded at GBX 23. Approximately 901,868 shares were traded during mid-day trading, a decline of 10% from the average session volume of 1,000,334 shares. The stock had previously closed at GBX 21.80.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RBW. Berenberg Bank restated a “buy” rating and issued a GBX 52 target price on shares of Rainbow Rare Earths in a research report on Wednesday, July 1st. Canaccord Genuity Group upgraded shares of Rainbow Rare Earths to a “speculative buy” rating and increased their price target for the stock from GBX 22 to GBX 39 in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 40.33.

Rainbow Rare Earths Trading Up 5.5%

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 firm has a market capitalization of £160.93 million, a P/E ratio of -21.10 and a beta of 0.46. The firm has a 50-day moving average of GBX 22.22 and a two-hundred day moving average of GBX 22.86.

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.