Rare Element Resources (OTCMKTS:REEMF) Trading Down 12.9% – Here’s What Happened

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

Rare Element Resources Trading Down 12.1%

The firm has a market capitalization of $634.82 million, a PE ratio of -123.00 and a beta of 0.88. The stock’s 50 day moving average price is $0.49 and its two-hundred day moving average price is $0.63.

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.