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

Key Points

• Rare Element Resources Ltd. experienced a significant decline in short interest, with a reduction of 95% from 50,300 shares in July to just 2,500 shares by mid-August.
• The company's stock price increased 1.7% to $1.17, with a market capitalization of $603.85 million and P/E ratio of -58.50.
• Rare Element Resources holds significant mineral properties, including 100% interest in the Bear Lodge REE project and the Sundance Gold project in Wyoming.

Rare Element Resources Ltd. (OTCMKTS:REEMF - Get Free Report) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totaling 2,500 shares, adeclineof95.0% from the July 31st total of 50,300 shares. Based on an average daily trading volume, of 1,043,600 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 1,043,600 shares, the days-to-cover ratio is presently 0.0 days.

Rare Element Resources Trading Up 1.7%

OTCMKTS:REEMF traded up $0.02 during trading hours on Friday, hitting $0.94. The company had a trading volume of 369,158 shares, compared to its average volume of 407,207. The company has a 50-day moving average of $1.02 and a 200 day moving average of $0.85. The company has a market cap of $482.82 million, a P/E ratio of -46.78 and a beta of 1.12. Rare Element Resources has a 1 year low of $0.26 and a 1 year high of $1.30.

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.