Insider Buying: Rare Element CFO Acquires 10,000 Shares of Stock (REE)
Rare Element (NYSE:REE) CFO Paul H. Zink bought 10,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 28th. The stock was purchased at an average cost of $1.05 per share, for a total transaction of $10,500.00. Following the purchase, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $26,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rare Element (NYSE:REE) traded up 5.14% during mid-day trading on Friday, hitting $1.104. 182,092 shares of the company’s stock traded hands. Rare Element has a 52-week low of $1.02 and a 52-week high of $3.50. The stock has a 50-day moving average of $1.18 and a 200-day moving average of $1.35. The company’s market cap is $52.7 million. Rare Element also was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 771,303 shares, a decrease of 6.8% from the July 31st total of 827,504 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 123,725 shares, the days-to-cover ratio is presently 6.2 days.
Rare Element Resources Ltd. (NYSE:REE) is engaged in the acquisition, exploration and development of mineral properties.
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