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

Rare Element Resources Ltd. (OTCMKTS:REEMF – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $1.55, but opened at $1.20. Rare Element Resources shares last traded at $1.10, with a volume of 1,686,542 shares trading hands.

Rare Element Resources Price Performance

The business has a 50 day moving average of $0.55 and a 200 day moving average of $0.64. The company has a market cap of $508.42 million, a PE ratio of -98.51 and a beta of 0.88.

Rare Element Resources Company Profile

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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.

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