Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Update

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,727,926 shares, a growth of 394.1% from the January 15th total of 349,705 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 1,076,820 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 1,076,820 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.3% of the company’s stock are short sold.

Rare Element Resources Trading Down 6.6%

REEMF opened at $0.72 on Thursday. The stock has a market capitalization of $369.02 million, a P/E ratio of -71.50 and a beta of 1.07. Rare Element Resources has a 12 month low of $0.58 and a 12 month high of $1.92. The firm’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $0.99.

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.