Rainbow Rare Earths (LON:RBW) Receives Speculative Buy Rating from Canaccord Genuity Group

Rainbow Rare Earths (LON:RBW)‘s stock had its “speculative buy” rating reaffirmed by analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday, Digital Look reports. They presently have a GBX 21 ($0.28) price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 130.90% from the stock’s previous close.

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.50) target price on shares of Rainbow Rare Earths in a research report on Wednesday, September 11th.

Rainbow Rare Earths Stock Down 9.0 %

Rainbow Rare Earths stock opened at GBX 9.10 ($0.12) 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 12-month low of GBX 8.75 ($0.12) and a 12-month high of GBX 17 ($0.22). The firm’s fifty day moving average is GBX 10.63 and its 200 day moving average is GBX 10.74. The company has a market capitalization of £58.54 million, a PE ratio of -454.75 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.