PolyMet Mining Corp. (PLM) Short Interest Update
PolyMet Mining Corp. (NYSE:PLM) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 2,856,624 shares, an increase of 1.5% from the September 15th total of 2,813,869 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 124,336 shares, the short-interest ratio is presently 23.0 days.
An institutional investor recently raised its position in PolyMet Mining Corp. stock. SNS Financial Group LLC raised its position in shares of PolyMet Mining Corp. (NYSE:PLM) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 144,505 shares of the company’s stock after buying an additional 10,000 shares during the period. SNS Financial Group LLC owned about 0.05% of PolyMet Mining Corp. worth $111,000 at the end of the most recent reporting period.
Shares of PolyMet Mining Corp. (NYSE:PLM) opened at 0.7361 on Friday. PolyMet Mining Corp. has a 1-year low of $0.68 and a 1-year high of $1.28. The firm’s market capitalization is $204.48 million. The stock’s 50 day moving average is $0.83 and its 200 day moving average is $0.83.
Several equities research analysts have weighed in on PLM shares. Zacks Investment Research upgraded shares of PolyMet Mining Corp. from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research note on Tuesday, September 20th. Paradigm Capital restated a “buy” rating and issued a $1.30 target price (down from $2.15) on shares of PolyMet Mining Corp. in a research note on Tuesday, July 19th. Finally, CIBC restated a “sector perform” rating and issued a $1.20 target price on shares of PolyMet Mining Corp. in a research note on Wednesday, July 20th.
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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