Rainbow Rare Earths’ (RBW) Buy Rating Reiterated at Berenberg Bank

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a report issued on Friday,Digital Look reports. They currently have a GBX 38 ($0.48) price target on the stock. Berenberg Bank’s price target suggests a potential upside of 222.03% from the company’s previous close.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 21 ($0.27) target price on shares of Rainbow Rare Earths in a report on Wednesday, September 18th.

Rainbow Rare Earths Stock Down 1.7 %

Shares of LON RBW traded down GBX 0.20 ($0.00) during midday trading on Friday, hitting GBX 11.80 ($0.15). 1,047,036 shares of the stock traded hands, compared to its average volume of 555,865. The company has a market cap of £75.96 million, a PE ratio of -590.00 and a beta of 2.25. Rainbow Rare Earths has a one year low of GBX 8.50 ($0.11) and a one year high of GBX 14.50 ($0.18). The business has a 50 day moving average price of GBX 11.87 and a two-hundred day moving average price of GBX 11.10. The company has a debt-to-equity ratio of 3.90, a quick ratio of 3.79 and a current ratio of 2.66.

About Rainbow Rare Earths

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.