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

Key Points

• Short interest plunged 37.8% — short interest fell to 706,096 shares as of April 15 (down from 1,135,097 on March 31), representing about 0.1% of shares and a days-to-cover ratio of 2.2.
• Shares opened at $0.70 with a 50-day/200-day moving average of $0.69/$0.87, a 52-week range of $0.49–$1.92, and a market capitalization of $360.97 million (P/E -69.94).
• Rare Element Resources is advancing the Bear Lodge rare-earth project in Wyoming, targeting both light and heavy rare-earth oxides (neodymium, praseodymium, dysprosium) to help establish a domestic critical-minerals supply.

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

Rare Element Resources Stock Down 0.0%

Shares of OTCMKTS REEMF opened at $0.70 on Monday. The stock's 50 day moving average price is $0.69 and its two-hundred day moving average price is $0.87. Rare Element Resources has a 52-week low of $0.49 and a 52-week high of $1.92. The stock has a market capitalization of $360.97 million, a P/E ratio of -69.94 and a beta of 0.92.

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

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