Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Declines By 79.9%

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 1,562 shares, a decrease of 79.9% from the July 15th total of 7,768 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 224,189 shares, the short-interest ratio is currently 0.0 days.

Rare Element Resources Stock Performance

Shares of REEMF stock traded up $0.28 during mid-day trading on Friday, reaching $1.21. The company’s stock had a trading volume of 6,316,246 shares, compared to its average volume of 366,900. The firm’s 50-day moving average is $0.47 and its two-hundred day moving average is $0.62. The company has a market cap of $621.91 million, a P/E ratio of -120.50 and a beta of 0.88. Rare Element Resources has a 1-year low of $0.37 and a 1-year high of $1.92.

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.