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

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,333,850 shares, a decline of 22.8% from the January 29th total of 1,727,926 shares. Based on an average daily volume of 686,693 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.3% of the company’s stock are short sold. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 686,693 shares, the days-to-cover ratio is currently 1.9 days.

Rare Element Resources Stock Up 1.7%

Shares of Rare Element Resources stock opened at $0.61 on Monday. Rare Element Resources has a 12 month low of $0.49 and a 12 month high of $1.92. The stock has a market cap of $314.83 million, a PE ratio of -61.00 and a beta of 0.97. The business has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $0.95.

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.