Polymet Mining Corp (NYSEAMERICAN:PLM) (TSE:POM) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,357,575 shares, an increase of 2.2% from the January 12th total of 1,327,934 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 847,469 shares, the days-to-cover ratio is presently 1.6 days.
Shares of Polymet Mining (NYSEAMERICAN:PLM) opened at $1.15 on Friday. Polymet Mining has a 52-week low of $0.57 and a 52-week high of $1.36. The stock has a market cap of $371.55, a price-to-earnings ratio of -28.75 and a beta of 1.32.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest Wealth Management LLC bought a new position in Polymet Mining during the 4th quarter valued at $103,000. Virtu KCG Holdings LLC bought a new position in Polymet Mining during the 2nd quarter valued at $187,000. Finally, Royal Bank of Canada lifted its stake in Polymet Mining by 4.1% during the 2nd quarter. Royal Bank of Canada now owns 1,061,800 shares of the basic materials company’s stock valued at $626,000 after acquiring an additional 41,750 shares in the last quarter.
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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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