Rare Element Resources Ltd. (OTCMKTS:REEMF) Sees Large Decline in Short Interest

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 706,096 shares, a drop of 37.8% from the March 31st total of 1,135,097 shares. Based on an average daily trading volume, of 323,558 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.1% of the shares of the company are sold short.

Rare Element Resources Stock Down 0.0%

Shares of REEMF opened at $0.70 on Monday. Rare Element Resources has a 12 month low of $0.49 and a 12 month high of $1.92. The company has a 50-day moving average price of $0.69 and a two-hundred day moving average price of $0.87. The stock has a market cap of $360.97 million, a price-to-earnings ratio of -69.94 and a beta of 0.92.

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

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.