Rainbow Rare Earths (LON:RBW) Earns Buy Rating from Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reiterated by Berenberg Bank in a research note issued to investors on Thursday, MarketBeat reports. They currently have a GBX 38 ($0.48) target price on the stock. Berenberg Bank’s price objective would suggest a potential upside of 280.00% from the stock’s previous close.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 25 ($0.32) price target on shares of Rainbow Rare Earths in a research note on Monday, February 26th.

Rainbow Rare Earths Price Performance

RBW stock traded down GBX 0.25 ($0.00) during mid-day trading on Thursday, hitting GBX 10 ($0.13). The company had a trading volume of 1,105,750 shares, compared to its average volume of 476,052. The company has a market capitalization of £63.03 million, a price-to-earnings ratio of -489.00 and a beta of 1.56. Rainbow Rare Earths has a 12-month low of GBX 7.02 ($0.09) and a 12-month high of GBX 18 ($0.23). The company has a quick ratio of 3.79, a current ratio of 6.24 and a debt-to-equity ratio of 4.33. The company has a 50-day moving average price of GBX 11.94 and a 200 day moving average price of GBX 13.66.

Rainbow Rare Earths Company Profile

Rainbow Rare Earths Limited engages in the mining and exploration of rare earth minerals. It explores for neodymium, dysprosium, terbium, and praseodymium deposits. The company holds 90% interest in the Gakara project covering an area of approximately 135 square kilometers located in Western Burundi.