Rainbow Rare Earths (LON:RBW) Given Buy Rating at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a GBX 35 ($0.47) price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 218.18% from the company’s current price.

Rainbow Rare Earths Price Performance

RBW opened at GBX 11 ($0.15) on Tuesday. The business’s fifty day moving average is GBX 11.25 and its two-hundred day moving average is GBX 11.33. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. The company has a market cap of £88.94 million, a price-to-earnings ratio of -21,000.38 and a beta of 2.25. Rainbow Rare Earths has a one year low of GBX 8.50 ($0.11) and a one year high of GBX 13 ($0.17).

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.