UPDATE: Dahlman Rose Assumes Coverage on Rare Element Resources, Downgrades to Hold

In a report published Wednesday, Dahlman Rose & Co. assumed coverage on Rare Element Resources Ltd.

, but downgraded its rating from Buy to Hold. Dahlman Rose noted, “We are assuming coverage of REE with a Hold (downgrade from Buy). Bear Lodge demonstrates an attractive resource grade, positive economics, and location in a favorable jurisdiction for mining investment within the US. Our rating is based on valuation vs. its peer group.” Rare Element Resources Ltd. closed on Tuesday at $4.24.