Berenberg Bank Reaffirms “Buy” Rating for Rainbow Rare Earths (LON:RBW)

Berenberg Bank restated their buy rating on shares of Rainbow Rare Earths (LON:RBW) in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have a GBX 38 ($0.48) price objective on the stock.

Separately, Canaccord Genuity Group reiterated a speculative buy rating and set a GBX 21 ($0.27) target price on shares of Rainbow Rare Earths in a research report on Wednesday, June 19th.

Rainbow Rare Earths Stock Up 4.8 %

RBW opened at GBX 11 ($0.14) on Monday. The business’s 50-day simple moving average is GBX 11.32 and its 200-day simple moving average is GBX 11.54. The company has a debt-to-equity ratio of 3.90, a quick ratio of 3.79 and a current ratio of 2.66. Rainbow Rare Earths has a one year low of GBX 9.10 ($0.12) and a one year high of GBX 18 ($0.23). The stock has a market capitalization of £69.34 million, a P/E ratio of -550.00 and a beta of 1.43.

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.