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

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reissued by equities researchers at Berenberg Bank in a research report issued on Wednesday, MarketBeat reports. They currently have a GBX 38 ($0.50) price objective on the stock. Berenberg Bank’s price target indicates a potential upside of 261.90% from the stock’s current price.

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

Rainbow Rare Earths Stock Up 5.0 %

Shares of LON:RBW opened at GBX 10.50 ($0.14) on Wednesday. The company has a quick ratio of 3.79, a current ratio of 2.66 and a debt-to-equity ratio of 3.90. Rainbow Rare Earths has a 52-week low of GBX 9.10 ($0.12) and a 52-week high of GBX 17 ($0.22). The company has a 50 day moving average of GBX 10.68 and a two-hundred day moving average of GBX 10.80. The company has a market capitalization of £67.59 million, a price-to-earnings ratio of -510.00 and a beta of 2.25.

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.