PolyMet Mining Corp. (PLM) Short Interest Up 2.6% in November
PolyMet Mining Corp. (NYSE:PLM) (TSE:POM) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,870,093 shares, an increase of 2.6% from the October 31st total of 2,797,823 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 317,736 shares, the days-to-cover ratio is presently 9.0 days.
Shares of PolyMet Mining Corp. (NYSE:PLM) opened at 0.8587 on Wednesday. PolyMet Mining Corp. has a 12 month low of $0.68 and a 12 month high of $1.28. The company has a 50-day moving average price of $0.80 and a 200-day moving average price of $0.82. The firm’s market capitalization is $238.54 million.
Separately, Zacks Investment Research upgraded PolyMet Mining Corp. from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research note on Tuesday, September 20th.
A number of large investors have recently modified their holdings of PLM. US Bancorp DE raised its stake in shares of PolyMet Mining Corp. by 793.2% in the second quarter. US Bancorp DE now owns 714,594 shares of the company’s stock valued at $550,000 after buying an additional 634,594 shares during the period. SNS Financial Group LLC raised its stake in shares of PolyMet Mining Corp. by 7.4% in the second quarter. SNS Financial Group LLC now owns 144,505 shares of the company’s stock valued at $111,000 after buying an additional 10,000 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of PolyMet Mining Corp. during the third quarter valued at about $141,000.
About PolyMet Mining Corp.
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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