Rainbow Rare Earths (LON:RBW) Stock Price Up 4.5% – Here’s What Happened

Rainbow Rare Earths Limited (LON:RBW)’s stock price shot up 4.5% during trading on Friday . The stock traded as high as GBX 11.50 ($0.14) and last traded at GBX 11.50 ($0.14). 790,596 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 562,926 shares. The stock had previously closed at GBX 11 ($0.14).

Wall Street Analyst Weigh In

Several research firms recently commented on RBW. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 21 ($0.26) target price on shares of Rainbow Rare Earths in a report on Wednesday, September 18th. Berenberg Bank reissued a “buy” rating and set a GBX 38 ($0.48) price target on shares of Rainbow Rare Earths in a report on Wednesday, September 11th.

Rainbow Rare Earths Stock Performance

The company has a debt-to-equity ratio of 3.90, a current ratio of 2.66 and a quick ratio of 3.79. The stock has a market cap of £74.02 million, a price-to-earnings ratio of -575.00 and a beta of 2.25. The stock’s 50-day moving average is GBX 11.22 and its 200 day moving average is GBX 11.01.

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.