Rare Element Resources (OTCMKTS:REEMF) Shares Gap Up – Here’s What Happened

Rare Element Resources Ltd. (OTCMKTS:REEMF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.1090, but opened at $1.24. Rare Element Resources shares last traded at $1.28, with a volume of 889,664 shares.

Rare Element Resources Trading Up 19.0%

The company has a 50-day moving average price of $0.56 and a two-hundred day moving average price of $0.64. The stock has a market cap of $681.27 million, a P/E ratio of -132.00 and a beta of 0.88.

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.