Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,948,624 shares, a drop of 1.8% from the May 15th total of 3,001,658 shares. Based on an average daily trading volume, of 152,729 shares, the days-to-cover ratio is currently 19.3 days. Approximately 1.4% of the shares of the stock are short sold.

An institutional investor recently bought a new position in Polymet Mining Corp stock. JPMorgan Chase & Co. purchased a new position in Polymet Mining Corp (NYSE:PLM) (TSE:POM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,997,127 shares of the basic materials company’s stock, valued at approximately $8,227,000. JPMorgan Chase & Co. owned approximately 3.45% of Polymet Mining Corp at the end of the most recent reporting period.

Polymet Mining Corp (PLM) opened at 0.63 on Friday. The company’s market cap is $200.68 million. The company’s 50 day moving average price is $0.68 and its 200 day moving average price is $0.77. Polymet Mining Corp has a 52-week low of $0.62 and a 52-week high of $1.14.

Polymet Mining Corp (NYSE:PLM) (TSE:POM) last issued its quarterly earnings results on Thursday, April 20th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Equities research analysts anticipate that Polymet Mining Corp will post ($0.03) EPS for the current fiscal year.

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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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