Canaccord Genuity Group Reiterates Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW) received a “speculative buy” rating from research analysts at Canaccord Genuity Group, with a price target of GBX 21 ($0.26). This rating indicates a potential upside of 118.20% from the company’s current price. Berenberg Bank also reaffirmed a “buy” rating with a price target of GBX 38 ($0.47) on Rainbow Rare Earths shares.

The stock opened at GBX 9.62 ($0.12) on Tuesday, with a fifty day simple moving average of GBX 11.02 and a 200-day simple moving average of GBX 13.05. Rainbow Rare Earths has a 52-week low of GBX 7.02 ($0.09) and a high of GBX 18 ($0.22). The company has a current ratio of 6.24, a quick ratio of 3.79, and a debt-to-equity ratio of 4.33. With a market cap of £60.66 million, a PE ratio of -481.20, and a beta of 1.56.

Rainbow Rare Earths Limited is engaged in mining and exploration of rare earth minerals, focusing on neodymium, dysprosium, terbium, and praseodymium deposits. The company’s primary project is the Gakara project in Western Burundi, where they hold a 90% interest covering an area of approximately 135 square kilometers.

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