Rare Element Resources Ltd. (OTCMKTS:REEMF) Sees Significant Drop in Short Interest

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 1,167,025 shares, a decrease of 12.5% from the February 12th total of 1,333,850 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 463,713 shares, the days-to-cover ratio is presently 2.5 days. Based on an average trading volume of 463,713 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.2% of the shares of the stock are sold short.

Rare Element Resources Stock Down 4.1%

OTCMKTS:REEMF opened at $0.70 on Wednesday. The stock has a market cap of $361.28 million, a P/E ratio of -70.00 and a beta of 0.97. The business’s 50-day moving average price is $0.75 and its two-hundred day moving average price is $0.91. Rare Element Resources has a twelve month low of $0.49 and a twelve month high of $1.92.

Rare Element Resources (OTCMKTS:REEMF) last announced its earnings results on Thursday, March 12th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

Rare Element Resources Company Profile

Rare Element Resources is a U.S.-based exploration and development company focused on rare earth element deposits. The company’s flagship asset is the Bear Lodge project in northeastern Wyoming, which hosts both light and heavy rare earth oxides such as neodymium, praseodymium and dysprosium. Rare Element Resources is working to advance this project through feasibility, permitting and eventual commercial production to establish a domestic supply of critical minerals.

Incorporated in the mid-2000s and headquartered in Highlands Ranch, Colorado, Rare Element Resources has conducted extensive drilling, metallurgical test work and engineering studies to refine its processing technology.