Rainbow Rare Earths Limited (LON:RBW) saw a 2% drop in its stock price during mid-day trading on Tuesday. The company’s shares traded as low as GBX 12 ($0.15) and closed at GBX 12.25 ($0.15). With approximately 160,574 shares traded, there was a significant decline of 69% from the average daily volume of 518,666 shares.
Despite this dip in stock price, Wall Street analysts forecast growth for Rainbow Rare Earths. Canaccord Genuity Group reiterated a “speculative buy” rating with a price target of GBX 21 ($0.26), while Berenberg Bank maintained a “buy” rating with a price target of GBX 38 ($0.48).
The company has a quick ratio of 3.79, a current ratio of 2.66, and a debt-to-equity ratio of 3.90. With a market capitalization of £77.21 million, a PE ratio of -612.50, and a beta of 1.48, Rainbow Rare Earths continues to be a player in the mining and exploration of rare earth minerals.
Rainbow Rare Earths Limited is actively engaged in exploring for neodymium, dysprosium, terbium, and praseodymium deposits. With a 90% interest in the Gakara project in Western Burundi, covering an area of approximately 135 square kilometers, the company remains focused on its mission to extract rare earth minerals.
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