Rare Element Resources (OTCMKTS:REEMF) Stock Price Down 4.4% – Here’s Why

Shares of Rare Element Resources Ltd. (OTCMKTS:REEMF) were down 4.4% during mid-day trading on Wednesday. The company traded as low as $1.08 and last traded at $1.08. Approximately 892,371 shares were traded during trading, an increase of 65% from the average session volume of 541,801 shares. The stock had previously closed at $1.13.

Rare Element Resources Stock Performance

The firm has a fifty day moving average price of $0.89 and a 200 day moving average price of $0.73. The stock has a market cap of $547.08 million, a PE ratio of -53.00 and a beta of 1.34.

Rare Element Resources (OTCMKTS:REEMF) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported ($0.01) earnings per share for the quarter.

About Rare Element Resources

Rare Element Resources Ltd. is a mineral exploration and development company focused on advancing rare earth element resources in the United States. Its principal asset is the Bear Lodge Project in northeastern Wyoming, which includes the Bull Hill and Whitetail Ridge deposits. The company is developing the project as a potential domestic source of rare earth elements used in applications such as permanent magnets and other advanced technologies. Its work includes evaluating the deposits and refining methods to separate and recover rare earth elements; the company is not a commercial producer.