Rare Element Resources (OTCMKTS:REEMF) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Rare Element Resources Ltd. (OTCMKTS:REEMF) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.78 and traded as low as $0.57. Rare Element Resources shares last traded at $0.61, with a volume of 152,565 shares traded.

Rare Element Resources Trading Up 1.7%

The company has a market cap of $314.83 million, a PE ratio of -61.00 and a beta of 1.07. The business’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.95.

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.