Short Interest in Polymet Mining Corp (NYSE:PLM) Rises By 4.1%
Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 3,104,719 shares, an increase of 4.1% from the July 14th total of 2,981,296 shares. Based on an average daily volume of 144,045 shares, the short-interest ratio is presently 21.6 days. Approximately 1.4% of the shares of the company are sold short.
Polymet Mining Corp (NYSE PLM) traded up 4.5833% on Friday, hitting $0.6275. The stock had a trading volume of 80,553 shares. Polymet Mining Corp has a 12-month low of $0.57 and a 12-month high of $0.97. The company’s 50 day moving average price is $0.65 and its 200-day moving average price is $0.71. The company’s market cap is $199.93 million.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Polymet Mining Corp during the fourth quarter worth $226,000. JPMorgan Chase & Co. bought a new stake in shares of Polymet Mining Corp during the first quarter worth $8,227,000. Virtu KCG Holdings LLC bought a new stake in shares of Polymet Mining Corp during the second quarter worth $187,000. Finally, Royal Bank of Canada boosted its stake in shares of Polymet Mining Corp by 4.1% in the second quarter. Royal Bank of Canada now owns 1,061,800 shares of the basic materials company’s stock worth $626,000 after buying an additional 41,750 shares during the last quarter.
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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