Rainbow Rare Earths (LON:RBW) Trading Down 1% – Time to Sell?

Rainbow Rare Earths Limited (LON:RBW)’s stock price was down 1% on Friday . The company traded as low as GBX 12 ($0.15) and last traded at GBX 12 ($0.15). Approximately 279,508 shares changed hands during trading, a decline of 53% from the average daily volume of 596,487 shares. The stock had previously closed at GBX 12.13 ($0.15).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 38 ($0.48) price objective on shares of Rainbow Rare Earths in a research note on Friday, December 13th.

Rainbow Rare Earths Stock Performance

The firm has a market capitalization of £97.03 million, a P/E ratio of -22,909.51 and a beta of 2.25. The company has a current ratio of 0.21, a quick ratio of 3.79 and a debt-to-equity ratio of 3.34. The business’s 50 day simple moving average is GBX 12.16 and its two-hundred day simple moving average is GBX 11.41.

About Rainbow Rare Earths

Rainbow Rare Earths aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil.