Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 3,017,082 shares, a decrease of 2.8% from the July 31st total of 3,104,719 shares. Based on an average daily volume of 87,443 shares, the short-interest ratio is currently 34.5 days. Currently, 1.4% of the shares of the stock are sold short.

Several hedge funds and other institutional investors have recently made changes to their positions in PLM. Renaissance Technologies LLC purchased a new position in shares of Polymet Mining Corp during the fourth quarter valued at approximately $226,000. Virtu KCG Holdings LLC purchased a new position in shares of Polymet Mining Corp during the second quarter valued at approximately $187,000. Royal Bank of Canada boosted its position 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 valued at $626,000 after buying an additional 41,750 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Polymet Mining Corp during the first quarter valued at approximately $8,227,000.

Polymet Mining Corp (NYSE:PLM) opened at 0.605 on Wednesday. Polymet Mining Corp has a 52-week low of $0.57 and a 52-week high of $0.97. The company’s 50 day moving average is $0.65 and its 200 day moving average is $0.70. The firm’s market cap is $192.76 million.

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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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