Rainbow Rare Earths (LON:RBW) Stock Price Up 4.5% – Time to Buy?

Rainbow Rare Earths Limited (LON:RBW)’s share price was up 4.5% during trading on Friday . The stock traded as high as GBX 11.50 ($0.14) and last traded at GBX 11.50 ($0.14). Approximately 790,596 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 562,926 shares. The stock had previously closed at GBX 11 ($0.14).

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Berenberg Bank restated a “buy” rating and set a GBX 38 ($0.48) price target on shares of Rainbow Rare Earths in a report on Wednesday, September 11th. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 21 ($0.26) price objective on shares of Rainbow Rare Earths in a research note on Wednesday, September 18th.

Rainbow Rare Earths Price Performance

The firm has a fifty day moving average of GBX 11.19 and a 200 day moving average of GBX 11.02. The company has a current ratio of 2.66, a quick ratio of 3.79 and a debt-to-equity ratio of 3.90. The company has a market capitalization of £74.02 million, a P/E ratio of -575.00 and a beta of 2.25.

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.