Rare Element Resources (OTCMKTS:REEMF) Shares Cross Below 50-Day Moving Average – Here’s Why

Rare Element Resources Ltd. (OTCMKTS:REEMF)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.88 and traded as low as $0.79. Rare Element Resources shares last traded at $0.8051, with a volume of 558,335 shares traded.

Rare Element Resources Stock Down 6.2%

The firm’s 50-day simple moving average is $0.88 and its 200-day simple moving average is $1.00. The firm has a market capitalization of $415.52 million, a PE ratio of -80.51 and a beta of 1.07.

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.