Rainbow Rare Earths (LON:RBW) Stock Price Up 4% - Should You Buy?

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) rose 4% during mid-day trading on Friday . The stock traded as high as GBX 9.62 ($0.12) and last traded at GBX 9.62 ($0.12). Approximately 3,530,544 shares were traded 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).

Analyst Ratings Changes

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

Rainbow Rare Earths Stock Performance

The firm has a market cap of £76.81 million, a P/E ratio of -18,136.69 and a beta of 2.25. The stock's 50-day moving average price is GBX 10.77 and its 200 day moving average price is GBX 11.41. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79.

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.