Rare Element Resources (OTCMKTS:REEMF) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Rare Element Resources Ltd. (OTCMKTS:REEMF) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.71 and traded as low as $0.61. Rare Element Resources shares last traded at $0.63, with a volume of 252,107 shares changing hands.

Rare Element Resources Stock Down 2.9%

The stock has a market cap of $325.15 million, a price-to-earnings ratio of -63.00 and a beta of 0.80. The stock’s fifty day moving average is $0.71 and its 200-day moving average is $0.77.

Rare Element Resources (OTCMKTS:REEMF) last issued its quarterly earnings data on Thursday, March 12th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

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.