PolyMet Mining Corp. (NYSE:PLM) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,856,624 shares, a growth of 1.5% from the September 15th total of 2,813,869 shares. Based on an average daily volume of 124,336 shares, the short-interest ratio is currently 23.0 days. Approximately 1.5% of the shares of the company are sold short.
Several brokerages have issued reports on PLM. Zacks Investment Research raised PolyMet Mining Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. CIBC reaffirmed a “sector perform” rating and set a $1.20 price objective on shares of PolyMet Mining Corp. in a research report on Wednesday, July 20th. Finally, Paradigm Capital reaffirmed a “buy” rating and set a $1.30 price objective (down from $2.15) on shares of PolyMet Mining Corp. in a research report on Tuesday, July 19th.
Shares of PolyMet Mining Corp. (NYSE:PLM) opened at 0.758 on Wednesday. PolyMet Mining Corp. has a 52 week low of $0.68 and a 52 week high of $1.28. The stock’s market capitalization is $210.57 million. The company’s 50 day moving average price is $0.82 and its 200-day moving average price is $0.83.
An institutional investor recently raised its position in PolyMet Mining Corp. stock. SNS Financial Group LLC increased its stake in shares of PolyMet Mining Corp. (NYSE:PLM) by 7.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 144,505 shares of the company’s stock after buying an additional 10,000 shares during the period. SNS Financial Group LLC owned 0.05% of PolyMet Mining Corp. worth $111,000 at the end of the most recent reporting period.
PolyMet Mining Corp. Company Profile
PolyMet Mining Corp. (PolyMet) is a development-stage company. The Company is engaged in the exploration and development of natural resource properties. The Company’s sole mineral property is the NorthMet Project, which is located in St. Louis County in the Mesabi Iron Range mining district approximately 60 miles north of Duluth, Minnesota, the United States.
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