Rainbow Rare Earths (LON:RBW) Trading Up 4.5% - What's Next?

Rainbow Rare Earths Limited (LON:RBW - Get Free Report) shares shot up 4.5% on Friday . The company traded as high as GBX 11.50 ($0.14) and last traded at GBX 11.50 ($0.14). 790,596 shares changed hands during mid-day trading, an increase of 40% from the average session volume of 562,926 shares. The stock had previously closed at GBX 11 ($0.14).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RBW shares. Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 21 ($0.26) price target on shares of Rainbow Rare Earths in a research note on Wednesday, September 18th. Berenberg Bank restated a "buy" rating and set a GBX 38 ($0.48) price target on shares of Rainbow Rare Earths in a research report on Wednesday, September 11th.

Rainbow Rare Earths Price Performance

The company has a debt-to-equity ratio of 3.90, a quick ratio of 3.79 and a current ratio of 2.66. The business has a 50-day simple moving average of GBX 11.19 and a 200 day simple moving average of GBX 11.02. The firm has a market cap 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.

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