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Rare Element (NYSE:REE) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 771,303 shares, a decline of 6.8% from the July 31st total of 827,504 shares, StockRatingsNetwork reports. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 123,725 shares, the short-interest ratio is currently 6.2 days.

Shares of Rare Element (NYSE:REE) opened at 1.04 on Thursday. Rare Element has a one year low of $1.02 and a one year high of $3.50. The stock’s 50-day moving average is $1.19 and its 200-day moving average is $1.36. The company’s market cap is $49.6 million.

Rare Element Resources Ltd. (NYSE:REE) is engaged in the acquisition, exploration and development of mineral properties.

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