Rainbow Rare Earths (LON:RBW) Shares Down 3.6% – Here’s Why

Shares of Rainbow Rare Earths Limited (LON:RBW) traded down 3.6% on Friday . The company traded as low as GBX 12 ($0.15) and last traded at GBX 12 ($0.15). 49,559 shares were traded during mid-day trading, a decline of 91% from the average session volume of 553,852 shares. The stock had previously closed at GBX 12.45 ($0.16).

Analyst Upgrades and Downgrades

RBW has been the topic of several research reports. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 21 ($0.27) price target on shares of Rainbow Rare Earths in a research report on Wednesday, September 18th. Berenberg Bank restated a “buy” rating and issued a GBX 38 ($0.48) target price on shares of Rainbow Rare Earths in a report on Wednesday, September 11th.

Rainbow Rare Earths Stock Performance

The firm has a market capitalization of £77.24 million, a PE ratio of -600.00 and a beta of 2.25. The business has a 50-day simple moving average of GBX 11.87 and a 200-day simple moving average of GBX 11.08. The company has a debt-to-equity ratio of 3.90, a current ratio of 2.66 and a quick ratio of 3.79.

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.