Berenberg Bank Reiterates Buy Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a report issued on Thursday, Marketbeat reports. They currently have a GBX 38 ($0.48) target price on the stock. Berenberg Bank’s target price would suggest a potential upside of 287.76% from the stock’s current price.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 25 ($0.32) target price on shares of Rainbow Rare Earths in a research report on Monday, February 26th.

Rainbow Rare Earths Price Performance

RBW stock opened at GBX 9.80 ($0.12) on Thursday. The firm has a 50 day simple moving average of GBX 11.83 and a two-hundred day simple moving average of GBX 13.59. The stock has a market cap of £61.77 million, a PE ratio of -490.00 and a beta of 1.56. Rainbow Rare Earths has a one year low of GBX 7.02 ($0.09) and a one year high of GBX 18 ($0.23). The company has a debt-to-equity ratio of 4.33, a current ratio of 6.24 and a quick ratio of 3.79.

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.