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

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a research note issued on Monday, Digital Look reports. They currently have a GBX 38 ($0.48) target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 258.49% from the company’s current price.

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 21 ($0.27) price objective on shares of Rainbow Rare Earths in a report on Wednesday, June 19th.

Rainbow Rare Earths Price Performance

Shares of Rainbow Rare Earths stock opened at GBX 10.60 ($0.13) on Monday. Rainbow Rare Earths has a 12-month low of GBX 9 ($0.11) and a 12-month high of GBX 18 ($0.23). The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 3.90. The company’s fifty day simple moving average is GBX 11.29 and its two-hundred day simple moving average is GBX 11.58. The firm has a market cap of £66.81 million, a PE ratio of -530.00 and a beta of 1.43.

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.