Rainbow Rare Earths (LON:RBW) Trading 4% Higher – Here’s What Happened

Rainbow Rare Earths Limited (LON:RBW)’s share price traded up 4% during trading on Friday . The company traded as high as GBX 9.62 ($0.12) and last traded at GBX 9.62 ($0.12). 3,530,544 shares traded hands during mid-day trading, an increase of 487% from the average session volume of 601,036 shares. The stock had previously closed at GBX 9.25 ($0.12).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.49) price target on shares of Rainbow Rare Earths in a research note on Friday, December 13th.

Rainbow Rare Earths Trading Up 4.0 %

The company has a 50 day simple moving average of GBX 10.92 and a 200 day simple moving average of GBX 11.39. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of £77.78 million, a PE ratio of -18,365.79 and a beta of 2.25.

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.