Rainbow Rare Earths Limited (LON:RBW – Get Free Report) insider George Bennett sold 550,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of GBX 21, for a total value of £115,500.
Rainbow Rare Earths Stock Down 3.3%
Shares of LON:RBW opened at GBX 23.50 on Monday. The company has a debt-to-equity ratio of 9.83, a current ratio of 1.22 and a quick ratio of 3.79. The business has a fifty day moving average price of GBX 22.19 and a two-hundred day moving average price of GBX 22.93. The company has a market capitalization of £164.43 million, a PE ratio of -21.56 and a beta of 0.46. Rainbow Rare Earths Limited has a 1 year low of GBX 14 and a 1 year high of GBX 30.
Analyst Upgrades and Downgrades
RBW has been the subject of a number of research reports. Berenberg Bank reissued a “buy” rating and issued a GBX 52 price target on shares of Rainbow Rare Earths in a research note on Wednesday, July 1st. Canaccord Genuity Group raised Rainbow Rare Earths to a “speculative buy” rating and lifted their price objective for the company from GBX 22 to GBX 39 in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 40.33.
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 and other advanced future-facing technologies.
It is doing this successfully via pioneering the first commercial recovery of rare earth elements from phosphogypsum that occurs as the by-product of phosphoric acid production. These projects eliminate the cost and risk of mining, meaning that they can be brought into production quicker and at a lower cost than traditional hard rock mining projects.
The Company is developing the Phalaborwa Project in South Africa and the earlier stage Uberaba Project in Brazil.
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