PolyMet Mining (NYSEAMERICAN:PLM) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Shares of PolyMet Mining Corp. (NYSEAMERICAN:PLM) (TSE:POM) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.10 and traded as low as $2.10. PolyMet Mining shares last traded at $2.10, with a volume of 486,700 shares.

PolyMet Mining Price Performance

The company’s 50-day simple moving average is $2.10 and its 200-day simple moving average is $2.10. The stock has a market capitalization of $408.37 million, a price-to-earnings ratio of -9.13 and a beta of 0.52.

PolyMet Mining Company Profile

PolyMet Mining Corp (NYSEAMERICAN:PLM) is a mineral exploration and development company focused on advancing its flagship NorthMet copper‐nickel‐precious metals project in northeastern Minnesota’s Mesabi Range. The firm holds exclusive rights to the NorthMet deposit, a polymetallic sulfide resource containing copper, nickel, cobalt, platinum, palladium, gold and silver. PolyMet’s primary business activity involves completing detailed engineering studies, securing key permits and preparing for the construction of an open‐pit mine and associated processing facilities.

The NorthMet project is situated near the city of Hoyt Lakes and benefits from existing infrastructure, including roads, power lines and water supplies.