Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Expands By 413.7%

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,886,779 shares, an increase of 413.7% from the August 15th total of 367,322 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 6,266,227 shares, the short-interest ratio is currently 0.3 days.

Rare Element Resources Trading Up 9.0%

OTCMKTS:REEMF opened at $0.91 on Friday. The company has a market capitalization of $469.66 million, a P/E ratio of -91.00 and a beta of 1.06. The firm has a 50-day moving average price of $0.72 and a two-hundred day moving average price of $0.67. Rare Element Resources has a twelve month low of $0.37 and a twelve month high of $2.00.

About Rare Element Resources

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.