Polymet Mining Corp (PLM) Sees Significant Growth in Short Interest
Polymet Mining Corp (NYSE:PLM) (TSE:POM) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,038,888 shares, an increase of 0.7% from the August 15th total of 3,017,082 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 168,237 shares, the days-to-cover ratio is currently 18.1 days.
Polymet Mining Corp (NYSE PLM) opened at 0.6299 on Monday. Polymet Mining Corp has a 52-week low of $0.57 and a 52-week high of $0.97. The company’s market cap is $200.69 million. The company’s 50-day moving average is $0.63 and its 200 day moving average is $0.68.
Polymet Mining Corp (NYSE:PLM) (TSE:POM) last issued its earnings results on Thursday, September 14th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Equities analysts forecast that Polymet Mining Corp will post ($0.03) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of PLM. Virtu KCG Holdings LLC purchased a new position in Polymet Mining Corp in the 2nd quarter worth about $187,000. Royal Bank of Canada raised its position in Polymet Mining Corp by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 1,061,800 shares of the basic materials company’s stock worth $626,000 after buying an additional 41,750 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Polymet Mining Corp in the 1st quarter worth about $8,227,000.
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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