Short Interest in Polymet Mining Corp (PLM) Increases By 0.7%

Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a large increase in short interest in 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 stock are sold short. Based on an average daily volume of 168,237 shares, the days-to-cover ratio is presently 18.1 days.

Shares of Polymet Mining Corp (NYSE:PLM) opened at 0.6251 on Wednesday. The stock’s market cap is $199.17 million. The firm has a 50-day moving average of $0.64 and a 200 day moving average of $0.68. Polymet Mining Corp has a 52 week low of $0.57 and a 52 week high of $0.97.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in Polymet Mining Corp during the first quarter valued at $8,227,000. Royal Bank of Canada lifted 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 in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Polymet Mining Corp in the second quarter worth about $187,000.

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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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