Rainbow Rare Earths (LON:RBW) Stock Price Up 11.4% – Here’s What Happened

Rainbow Rare Earths Limited (LON:RBW) shares traded up 11.4% during trading on Tuesday . The company traded as high as GBX 24 and last traded at GBX 23.85. 1,226,461 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,345,670 shares. The stock had previously closed at GBX 21.40.

Wall Street Analyst Weigh In

Several research firms have weighed in on RBW. Stifel Nicolaus reiterated a “buy” rating and set a GBX 30 target price on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Berenberg Bank restated a “buy” rating and issued a GBX 34 price target on shares of Rainbow Rare Earths in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 32.

Rainbow Rare Earths Price Performance

The company has a market cap of £153.66 million, a price-to-earnings ratio of -48.67 and a beta of 0.53. The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 5.16. The company’s fifty day moving average price is GBX 20.85 and its two-hundred day moving average price is GBX 19.38.

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. 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.