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

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a significant decline in short interest in May. As of May 29th, there was short interest totaling 284,295 shares, a decline of 46.3% from the May 14th total of 529,145 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 328,183 shares, the days-to-cover ratio is currently 0.9 days.

Rare Element Resources Trading Down 0.9%

REEMF stock opened at $0.53 on Friday. Rare Element Resources has a 1-year low of $0.49 and a 1-year high of $1.92. The business’s 50 day moving average is $0.67 and its 200-day moving average is $0.76. The firm has a market cap of $273.54 million, a P/E ratio of -53.00 and a beta of 0.80.

Rare Element Resources (OTCMKTS:REEMF) last posted its earnings results on Thursday, March 12th. The basic materials company reported ($0.01) 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.