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

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,886,779 shares, an increase of 413.7% from the August 15th total of 367,322 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 6,266,227 shares, the days-to-cover ratio is currently 0.3 days.

Rare Element Resources Trading Up 1.1%

Shares of Rare Element Resources stock traded up $0.01 during mid-day trading on Friday, reaching $0.92. 172,518 shares of the stock were exchanged, compared to its average volume of 2,305,985. The company has a market cap of $474.82 million, a price-to-earnings ratio of -92.00 and a beta of 1.06. Rare Element Resources has a fifty-two week low of $0.37 and a fifty-two week high of $2.00. The firm has a 50-day simple moving average of $0.73 and a 200 day simple moving average of $0.67.

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.