PolyMet Mining (NYSEAMERICAN:PLM) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of PolyMet Mining (NYSEAMERICAN:PLM) (TSE:POM) in a report issued on Monday. The brokerage set a “hold” rating on the basic materials company’s stock.

PolyMet Mining Trading Down 0.5 %

Shares of PLM stock opened at $2.10 on Monday. PolyMet Mining has a 1-year low of $0.75 and a 1-year high of $3.22. The firm has a market cap of $408.37 million, a P/E ratio of -9.13 and a beta of 0.52. The stock’s 50 day simple moving average is $2.03.

Hedge Funds Weigh In On PolyMet Mining

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of PolyMet Mining by 3.7% in the first quarter. Vanguard Group Inc. now owns 131,643 shares of the basic materials company’s stock worth $552,000 after buying an additional 4,636 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PolyMet Mining by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 66,038 shares of the basic materials company’s stock worth $277,000 after buying an additional 4,854 shares during the last quarter. State Street Corp grew its holdings in PolyMet Mining by 2.5% in the 1st quarter. State Street Corp now owns 358,089 shares of the basic materials company’s stock valued at $1,500,000 after buying an additional 8,676 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PolyMet Mining by 152.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,321 shares of the basic materials company’s stock worth $215,000 after acquiring an additional 31,031 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of PolyMet Mining by 87.6% in the 2nd quarter. Rhumbline Advisers now owns 39,287 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 18,340 shares during the last quarter. Institutional investors and hedge funds own 3.09% of the company’s stock.

About PolyMet Mining

PolyMet Mining Corp., through its subsidiary, Poly Met Mining, Inc, engages in the exploration and development of natural resource properties. Its primary mineral property is the NorthMet project, a polymetallic project that hosts copper, nickel, cobalt, platinum, palladium, gold, and silver mineralization covering an area of approximately 5,980 acres located in northeastern Minnesota, the United States.