Rainbow Rare Earths (LON:RBW) Stock Price Up 1.6% - Here's What Happened

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) traded up 1.6% during mid-day trading on Monday . The company traded as high as GBX 12.50 ($0.16) and last traded at GBX 12.50 ($0.16). 86,655 shares changed hands during trading, a decline of 24% from the average session volume of 113,584 shares. The stock had previously closed at GBX 12.30 ($0.15).

Wall Street Analyst Weigh In

RBW has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a "speculative buy" rating and issued a GBX 21 ($0.26) target price on shares of Rainbow Rare Earths in a research note on Wednesday, September 18th. Berenberg Bank reissued a "buy" rating and set a GBX 38 ($0.47) price objective on shares of Rainbow Rare Earths in a report on Friday, December 13th.

Rainbow Rare Earths Stock Performance

The company has a market cap of £80.46 million, a P/E ratio of -625.00 and a beta of 2.25. The company's fifty day moving average is GBX 12.02 and its 200 day moving average is GBX 11.16. The company has a current ratio of 2.66, a quick ratio of 3.79 and a debt-to-equity ratio of 3.90.

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.