Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Decreases By 12.5%

Key Points

• Short interest in Rare Element Resources decreased by 12.5% to 1,167,025 shares as of Feb. 27, equal to about 0.2% of the company's stock and a days‑to‑cover ratio of 2.5 days.
• REEMF opened at $0.73, trades in a 52‑week range of $0.49–$1.92, has a market cap of $376.8M and a negative P/E of -73.01, with 50‑ and 200‑day SMAs at $0.75 and $0.91 respectively.
• Rare Element Resources is developing the Bear Lodge rare‑earth project in Wyoming to produce critical light and heavy rare‑earth oxides such as neodymium, praseodymium and dysprosium.

Rare Element Resources Ltd. (OTCMKTS:REEMF - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 1,167,025 shares, a decrease of 12.5% from the February 12th total of 1,333,850 shares. Approximately 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 463,713 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 463,713 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.2% of the company's stock are sold short.

Rare Element Resources Stock Performance

OTCMKTS:REEMF opened at $0.73 on Tuesday. The company's 50-day simple moving average is $0.75 and its 200-day simple moving average is $0.91. Rare Element Resources has a fifty-two week low of $0.49 and a fifty-two week high of $1.92. The stock has a market capitalization of $376.81 million, a P/E ratio of -73.01 and a beta of 0.97.

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