Rainbow Rare Earths (LON:RBW) Rating Reiterated by Canaccord Genuity Group

Rainbow Rare Earths (LON:RBW)‘s stock had its “speculative buy” rating reissued by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a GBX 21 ($0.27) price objective on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 73.55% from the stock’s current price.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 38 ($0.48) target price on shares of Rainbow Rare Earths in a research note on Wednesday.

Rainbow Rare Earths Trading Up 5.2 %

Shares of RBW stock opened at GBX 12.10 ($0.15) on Wednesday. The stock has a 50-day simple moving average of GBX 11.14 and a 200 day simple moving average of GBX 11.80. Rainbow Rare Earths has a fifty-two week low of GBX 8.22 ($0.10) and a fifty-two week high of GBX 18 ($0.23). The stock has a market capitalization of £76.27 million, a P/E ratio of -605.00 and a beta of 1.43. The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 3.90.

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.