Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 3,017,082 shares, a decrease of 2.8% from the July 31st total of 3,104,719 shares. Based on an average daily volume of 87,443 shares, the days-to-cover ratio is presently 34.5 days. Currently, 1.4% of the company’s stock are sold short.
Several hedge funds and other institutional investors have recently made changes to their positions in PLM. JPMorgan Chase & Co. bought a new position in shares of Polymet Mining Corp during the first quarter valued at about $8,227,000. Royal Bank of Canada raised its stake in shares of Polymet Mining Corp by 4.1% in the second 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 period. Virtu KCG Holdings LLC acquired a new stake in shares of Polymet Mining Corp during the second quarter worth approximately $187,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Polymet Mining Corp during the fourth quarter worth approximately $226,000.
Shares of Polymet Mining Corp (NYSE PLM) opened at 0.6088 on Friday. The stock’s market capitalization is $193.97 million. Polymet Mining Corp has a 52-week low of $0.57 and a 52-week high of $0.97. The stock has a 50 day moving average of $0.65 and a 200-day moving average of $0.70.
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About Polymet Mining Corp
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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