Polymet Mining Sees Significant Growth in Short Interest (PLM)
Polymet Mining (NYSE:PLM) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 3,629,623 shares, a growth of 0.5% from the July 31st total of 3,647,280 shares, American Banking News.com reports. Based on an average trading volume of 137,086 shares, the days-to-cover ratio is presently 26.5 days. Currently, 1.9% of the shares of the stock are short sold.
A number of research firms have recently commented on PLM. Analysts at Paradigm Capital upgraded shares of Polymet Mining to a “buy” rating in a research note on Thursday, August 14th. Analysts at Roth Capital initiated coverage on shares of Polymet Mining in a research note on Tuesday, August 5th. They set a “buy” rating and a $2.25 price target on the stock.
Shares of Polymet Mining (NYSE:PLM) opened at 1.17 on Friday. Polymet Mining has a 52-week low of $0.67 and a 52-week high of $1.56. The stock’s 50-day moving average is $1.16 and its 200-day moving average is $1.2. The company’s market cap is $322.5 million.
PolyMet Mining Corp. (NYSE:PLM) is a development-stage company engaged in the exploration and development of natural resource properties.
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