Rainbow Rare Earths’ (RBW) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research report released on Tuesday, Marketbeat.com reports. The brokerage currently has a GBX 35 ($0.47) price target on the stock.

Rainbow Rare Earths Stock Performance

Shares of Rainbow Rare Earths stock opened at GBX 10.90 ($0.15) on Tuesday. The stock’s fifty day moving average is GBX 11.27 and its two-hundred day moving average is GBX 11.33. The company has a market capitalization of £88.13 million, a PE ratio of -20,809.47 and a beta of 2.25. The company has a quick ratio of 3.79, a current ratio of 0.21 and a debt-to-equity ratio of 3.34. Rainbow Rare Earths has a 52 week low of GBX 8.50 ($0.11) and a 52 week high of GBX 13 ($0.18).

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. 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.