Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Down 46.3% in May

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a significant decline in short interest during the month of 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. Based on an average daily trading volume, of 328,183 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.1% of the shares of the stock are sold short.

Rare Element Resources Trading Up 4.7%

Shares of Rare Element Resources stock traded up $0.03 during trading on Monday, reaching $0.56. The company’s stock had a trading volume of 143,607 shares, compared to its average volume of 309,300. The stock has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $0.76. Rare Element Resources has a one year low of $0.49 and a one year high of $1.92. The stock has a market capitalization of $286.44 million, a P/E ratio of -55.50 and a beta of 0.80.

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