Rare Element Resources Ltd. (OTCMKTS:REEMF – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,039,683 shares, a drop of 36.8% from the September 15th total of 1,646,325 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 632,237 shares, the days-to-cover ratio is currently 1.6 days.
Rare Element Resources Trading Down 2.7%
OTCMKTS:REEMF opened at $0.92 on Friday. The firm’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $0.71. Rare Element Resources has a one year low of $0.37 and a one year high of $2.00.
About Rare Element Resources
Rare Element Resources Ltd. is a mineral development company focused on the exploration and advancement of rare earth element resources in the United States. Its principal asset is the Bear Lodge Rare Earth Project in northeastern Wyoming, which contains deposits of rare earth elements used in technologies such as electric vehicles, wind turbines, electronics, and defense applications.
The company is developing processing methods intended to separate rare earth elements from ore produced at Bear Lodge.
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