Rare Element Resources (OTCMKTS:REEMF) Announces Quarterly Earnings Results

Rare Element Resources (OTCMKTS:REEMF) issued its earnings results on Thursday. The basic materials company reported ($0.01) earnings per share for the quarter, Zacks reports.

Rare Element Resources Stock Down 8.3%

Shares of REEMF stock traded down $0.06 on Friday, hitting $0.69. The stock had a trading volume of 233,430 shares, compared to its average volume of 407,998. The business has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.92. The company has a market cap of $356.37 million, a PE ratio of -69.05 and a beta of 0.97. Rare Element Resources has a one year low of $0.49 and a one year high of $1.92.

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.