PolyMet Mining Corp. (PLM) Short Interest Update
PolyMet Mining Corp. (NYSE:PLM) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,813,869 shares, a drop of 1.5% from the August 31st total of 2,857,742 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 126,839 shares, the short-interest ratio is currently 22.2 days.
A number of analysts recently weighed in on PLM shares. Zacks Investment Research upgraded shares of PolyMet Mining Corp. from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research report on Tuesday, September 20th. CIBC reiterated a “sector perform” rating and issued a $1.20 price target on shares of PolyMet Mining Corp. in a research report on Wednesday, July 20th. Finally, Paradigm Capital reiterated a “buy” rating and issued a $1.30 price target (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 0.8262 on Friday. PolyMet Mining Corp. has a 1-year low of $0.64 and a 1-year high of $1.28. The company’s 50-day moving average price is $0.87 and its 200-day moving average price is $0.84. The company’s market capitalization is $229.51 million.
An institutional investor recently raised its position in PolyMet Mining Corp. stock. SNS Financial Group LLC raised its stake in shares of PolyMet Mining Corp. (NYSE:PLM) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 0.05% of PolyMet Mining Corp. worth $111,000 as of its most recent SEC filing.
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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