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

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

Analysts Set New Price Targets

RBW has been the subject of several analyst reports. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 21 ($0.26) price objective on shares of Rainbow Rare Earths in a report on Wednesday, September 18th. Berenberg Bank reissued a “buy” rating and issued a GBX 38 ($0.48) price objective on shares of Rainbow Rare Earths in a report on Wednesday, September 11th.

Rainbow Rare Earths Trading Up 4.5 %

The company has a 50 day simple moving average of GBX 11.22 and a 200 day simple moving average of GBX 11.01. The company has a debt-to-equity ratio of 3.90, a quick ratio of 3.79 and a current ratio of 2.66. The company has a market capitalization of £74.02 million, a PE ratio of -575.00 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.