Polymet Mining Corp (PLM) Short Interest Up 18.8% in June
Polymet Mining Corp (NYSEAMERICAN:PLM) (TSE:POM) saw a large increase in short interest during the month of June. As of June 29th, there was short interest totalling 1,762,436 shares, an increase of 18.8% from the June 15th total of 1,483,743 shares. Based on an average daily volume of 499,402 shares, the days-to-cover ratio is currently 3.5 days.
Shares of Polymet Mining traded down $0.04, reaching $0.90, during mid-day trading on Wednesday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,211 shares, compared to its average volume of 522,765. Polymet Mining has a 12-month low of $0.58 and a 12-month high of $1.36.
Hedge funds have recently modified their holdings of the company. All Terrain Financial Advisors LLC purchased a new position in shares of Polymet Mining in the 4th quarter valued at $118,000. Cahill Financial Advisors Inc. purchased a new position in shares of Polymet Mining in the 1st quarter valued at $168,000. Deutsche Bank AG raised its stake in shares of Polymet Mining by 174.8% in the 4th quarter. Deutsche Bank AG now owns 297,368 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 189,168 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Polymet Mining by 185.2% in the 4th quarter. Renaissance Technologies LLC now owns 308,600 shares of the basic materials company’s stock valued at $265,000 after acquiring an additional 200,400 shares during the period.
PolyMet Mining Corp. explores for and develops natural resource properties. Its primary mineral property is the NorthMet project that includes NorthMet copper-nickel-precious metals ore body covering an area of approximately 4,300 acres located in northeastern Minnesota. The company was formerly known as Fleck Resources Ltd.
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