Rainbow Rare Earths (LON:RBW) Trading Up 4% – What’s Next?

Rainbow Rare Earths Limited (LON:RBW) shares rose 4% on Friday . The company traded as high as GBX 9.62 ($0.12) and last traded at GBX 9.62 ($0.12). Approximately 3,530,544 shares changed hands during trading, an increase of 487% from the average daily volume of 601,036 shares. The stock had previously closed at GBX 9.25 ($0.12).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.49) target price on shares of Rainbow Rare Earths in a report on Friday, December 13th.

Rainbow Rare Earths Trading Up 4.0 %

The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of £77.78 million, a price-to-earnings ratio of -18,365.79 and a beta of 2.25. The business has a 50 day simple moving average of GBX 10.92 and a 200-day simple moving average of GBX 11.39.

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.