Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Update
by Sarita Garza · The Markets DailyRare Element Resources Ltd. (OTCMKTS:REEMF – Get Free Report) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 284,295 shares, a decrease of 46.3% from the May 14th total of 529,145 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 328,183 shares, the days-to-cover ratio is currently 0.9 days.
Rare Element Resources Price Performance
REEMF opened at $0.53 on Friday. Rare Element Resources has a fifty-two week low of $0.49 and a fifty-two week high of $1.92. The firm’s fifty day moving average price is $0.67 and its two-hundred day moving average price is $0.76. The company has a market capitalization of $273.54 million, a P/E ratio of -53.00 and a beta of 0.80.
Rare Element Resources (OTCMKTS:REEMF – Get Free Report) last announced 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.