Rainbow Rare Earths (LON:RBW) Trading Up 16.8% – Still a Buy?

Shares of Rainbow Rare Earths Limited (LON:RBW) shot up 16.8% on Tuesday . The company traded as high as GBX 11.98 ($0.16) and last traded at GBX 11.98 ($0.16). 1,039,287 shares were traded during trading, an increase of 73% from the average session volume of 600,640 shares. The stock had previously closed at GBX 10.25 ($0.14).

Rainbow Rare Earths Trading Up 14.3 %

The firm has a fifty day simple moving average of GBX 10.38 and a 200-day simple moving average of GBX 11.43. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.21 and a quick ratio of 3.79. The firm has a market cap of £94.69 million, a P/E ratio of -22,357.77 and a beta of 2.25.

Rainbow Rare Earths Company Profile

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.