Rainbow Rare Earths (LON:RBW) Sets New 12-Month High – What’s Next?

Rainbow Rare Earths Limited (LON:RBW)’s share price reached a new 52-week high on Thursday . The company traded as high as GBX 29.50 and last traded at GBX 29.07, with a volume of 11236651 shares. The stock had previously closed at GBX 27.70.

Wall Street Analysts Forecast Growth

RBW has been the topic of several research analyst reports. Berenberg Bank reissued a “buy” rating and set a GBX 34 target price on shares of Rainbow Rare Earths in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 30 target price on shares of Rainbow Rare Earths in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rainbow Rare Earths presently has an average rating of “Buy” and a consensus target price of GBX 32.

Rainbow Rare Earths Stock Performance

The company has a debt-to-equity ratio of 5.16, a quick ratio of 3.79 and a current ratio of 2.66. The business’s 50-day moving average is GBX 19.42 and its 200-day moving average is GBX 18.71. The company has a market capitalization of £187.29 million, a PE ratio of -59.33 and a beta of 0.53.

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.