PolyMet Mining Corp. (NYSE:PLM) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,830,601 shares, a growth of 8.5% from the September 15th total of 3,531,704 shares, American Banking & Market News reports. Based on an average daily volume of 238,425 shares, the days-to-cover ratio is currently 16.1 days. Approximately 2.0% of the company’s stock are short sold.
A number of research firms have recently commented on PLM. Analysts at CIBC initiated coverage on shares of PolyMet Mining Corp. in a research note on Wednesday, October 1st. They set an “outperform” rating on the stock. Separately, analysts at Lake Street Capital initiated coverage on shares of PolyMet Mining Corp. in a research note on Tuesday, September 23rd. They set a “buy” rating and a $2.50 price target on the stock. Finally, analysts at HC Wainwright initiated coverage on shares of PolyMet Mining Corp. in a research note on Monday, September 8th. They set a “buy” rating and a $2.10 price target on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $2.28.
Shares of PolyMet Mining Corp. (NYSE:PLM) traded down 0.93% during mid-day trading on Thursday, hitting $1.06. 285,886 shares of the company’s stock traded hands. PolyMet Mining Corp. has a one year low of $0.67 and a one year high of $1.56. The stock’s 50-day moving average is $1.14 and its 200-day moving average is $1.1. The company’s market cap is $292.2 million.
PolyMet Mining Corp. (NYSE:PLM) last released its earnings data on Wednesday, September 10th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.01). Analysts expect that PolyMet Mining Corp. will post $-0.03 EPS for the current fiscal year.
PolyMet Mining Corp. (NYSE:PLM) is a development-stage company engaged in the exploration and development of natural resource properties.
