Rainbow Rare Earths (LON:RBW) Trading Up 4% – Time to Buy?

Rainbow Rare Earths Limited (LON:RBW)’s stock price was up 4% during trading on Monday . The stock traded as high as GBX 22 and last traded at GBX 20.80. 1,470,493 shares changed hands during trading, an increase of 110% from the average session volume of 701,481 shares. The stock had previously closed at GBX 20.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating on shares of Rainbow Rare Earths in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 33.

Rainbow Rare Earths Stock Performance

The company has a debt-to-equity ratio of 5.16, a current ratio of 2.66 and a quick ratio of 3.79. The stock has a 50-day moving average price of GBX 18.66 and a 200-day moving average price of GBX 18.36. The company has a market capitalization of £133.36 million, a price-to-earnings ratio of -42.24 and a beta of 0.48.

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.