Short Interest in Polymet Mining Corp (PLM) Declines By 67.7%
Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a large drop in short interest in September. As of September 29th, there was short interest totalling 950,935 shares, a drop of 67.7% from the September 15th total of 2,939,553 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 228,316 shares, the days-to-cover ratio is currently 4.2 days.
Several large investors have recently bought and sold shares of PLM. Virtu KCG Holdings LLC acquired a new position in shares of Polymet Mining Corp in the second quarter worth $187,000. Royal Bank of Canada grew 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 acquiring an additional 41,750 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Polymet Mining Corp in the first quarter worth $8,227,000.
Shares of Polymet Mining Corp (PLM) traded down 1.6224% during mid-day trading on Tuesday, reaching $0.6185. The company’s stock had a trading volume of 205,392 shares. The stock’s market cap is $197.33 million. Polymet Mining Corp has a one year low of $0.57 and a one year high of $0.97. The stock has a 50 day moving average of $0.62 and a 200-day moving average of $0.66.
Polymet Mining Corp (NYSE:PLM) (TSE:POM) last posted its quarterly earnings results on Thursday, September 14th. The basic materials company reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). On average, equities research analysts expect that Polymet Mining Corp will post ($0.03) EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This story was reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/10/short-interest-in-polymet-mining-corp-plm-declines-by-67-7.html.
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.
Receive News & Ratings for Polymet Mining Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polymet Mining Corp and related companies with MarketBeat.com's FREE daily email newsletter.