Canaccord Genuity Group Reaffirms “Speculative Buy” Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “speculative buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a report released on Thursday, Marketbeat reports. They currently have a GBX 39 price objective on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 62.50% from the company’s current price.

Separately, Berenberg Bank restated a “buy” rating and set a GBX 52 price objective on shares of Rainbow Rare Earths in a report on Monday, September 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 40.33.

Rainbow Rare Earths Trading Up 4.3%

Shares of LON RBW opened at GBX 24 on Thursday. Rainbow Rare Earths has a 12 month low of GBX 15.50 and a 12 month high of GBX 30. The company has a market cap of £167.93 million, a price-to-earnings ratio of -22.02 and a beta of 0.46. The company has a quick ratio of 3.79, a current ratio of 1.22 and a debt-to-equity ratio of 9.83. The business has a fifty day simple moving average of GBX 23.21 and a 200-day simple moving average of GBX 23.83.

Insider Activity at Rainbow Rare Earths

In other Rainbow Rare Earths news, insider George Bennett sold 550,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of GBX 21, for a total transaction of £115,500. Also, insider Alexander Lowrie bought 95,555 shares of Rainbow Rare Earths stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of GBX 25 per share, with a total value of £23,888.75. Insiders own 23.39% of the company’s stock.

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 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.