PolyMet Mining Corp. (PLM) Short Interest Up 1.5% in September
PolyMet Mining Corp. (NYSE:PLM) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,856,624 shares, a growth of 1.5% from the September 15th total of 2,813,869 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 124,336 shares, the short-interest ratio is currently 23.0 days.
Shares of PolyMet Mining Corp. (NYSE:PLM) opened at 0.75 on Wednesday. PolyMet Mining Corp. has a 12 month low of $0.68 and a 12 month high of $1.28. The company’s market capitalization is $208.34 million. The stock has a 50 day moving average price of $0.84 and a 200-day moving average price of $0.84.
An institutional investor recently raised its position in PolyMet Mining Corp. stock. SNS Financial Group LLC boosted its stake in PolyMet Mining Corp. (NYSE:PLM) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,505 shares of the company’s stock after buying an additional 10,000 shares during the period. SNS Financial Group LLC owned 0.05% of PolyMet Mining Corp. worth $111,000 as of its most recent SEC filing.
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PLM has been the topic of a number of research analyst reports. Zacks Investment Research upgraded PolyMet Mining Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Paradigm Capital reiterated a “buy” rating and set a $1.30 target price (down previously from $2.15) on shares of PolyMet Mining Corp. in a report on Tuesday, July 19th. Finally, CIBC reiterated a “sector perform” rating and set a $1.20 target price on shares of PolyMet Mining Corp. in a report on Wednesday, July 20th.
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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