Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Grows By 84.3%

Key Points

• Rare Element Resources Ltd. experienced a significant rise in short interest of 84.3% in July, increasing from 22,300 shares to 41,100 shares as of July 15th.
• The company's stock price declined 1.9% to $0.99 during trading, with a total of 311,577 shares exchanged, against an average volume of 613,182.
• Rare Element Resources has a market capitalization of $511.21 million and a price-to-earnings ratio of -33.02, indicating a negative earnings outlook.

Rare Element Resources Ltd. (OTCMKTS:REEMF - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 41,100 shares, agrowthof84.3% from the June 30th total of 22,300 shares. Based on an average daily trading volume, of 1,168,000 shares, the short-interest ratio is presently 0.0 days. Based on an average daily trading volume, of 1,168,000 shares, the short-interest ratio is presently 0.0 days.

Rare Element Resources Stock Up 5.0%

Shares of REEMF stock traded up $0.06 during trading hours on Friday, hitting $1.19. 1,585,320 shares of the company's stock traded hands, compared to its average volume of 608,647. The stock's fifty day simple moving average is $0.87 and its two-hundred day simple moving average is $0.80. Rare Element Resources has a 12-month low of $0.22 and a 12-month high of $1.24. The stock has a market cap of $616.24 million, a price-to-earnings ratio of -59.70 and a beta of 0.93.

Rare Element Resources Company Profile

Rare Element Resources Ltd. engages in the exploration of mineral properties in the United States and Canada. It holds 100% interest in the Bear Lodge property that comprises the Bear Lodge REE project; and the Sundance Gold project located in Crook County, northeast Wyoming. Rare Element Resources Ltd.