Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating restated by research analysts at Arden Partners in a research report issued on Wednesday. They currently have a GBX 19 ($0.26) target price on the stock. Arden Partners’ target price points to a potential upside of 36.30% from the company’s current price.
Rainbow Rare Earths (LON:RBW) opened at GBX 13.94 ($0.19) on Wednesday. The company has a market capitalization of $24.10 and a price-to-earnings ratio of -1,394.00. Rainbow Rare Earths has a 52 week low of GBX 10.21 ($0.14) and a 52 week high of GBX 17.17 ($0.24).
In related news, insider Martin Eales acquired 179,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was purchased at an average cost of GBX 14 ($0.19) per share, for a total transaction of £25,060 ($34,622.82).
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Rainbow Rare Earths Limited is a Guernsey-based mining company. The Company is engaged in the exploration and development of the Gakara project, a rare earth deposit in Burundi, East Africa. The Gakara Rare Earth Project is located in the Bujumbura province of Western Burundi, which consists of a mining license and exploration license.
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