Rare Element Resources (OTCMKTS:REEMF) Shares Down 12.9% – Should You Sell?

Shares of Rare Element Resources Ltd. (OTCMKTS:REEMF) were down 12.9% on Tuesday . The company traded as low as $1.22 and last traded at $1.22. 1,026,814 shares traded hands during mid-day trading, an increase of 154% from the average session volume of 404,116 shares. The stock had previously closed at $1.40.

Rare Element Resources Stock Up 9.2%

The company has a 50-day moving average of $0.53 and a 200-day moving average of $0.63. The company has a market cap of $738.04 million, a PE ratio of -143.00 and a beta of 0.88.

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.