Polymet Mining Corp (NYSE:PLM) (TSE:POM) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 3,104,719 shares, an increase of 4.1% from the July 14th total of 2,981,296 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 144,045 shares, the days-to-cover ratio is presently 21.6 days.
A number of institutional investors have recently bought and sold shares of PLM. JPMorgan Chase & Co. purchased a new position in Polymet Mining Corp during the first quarter worth about $8,227,000. Virtu KCG Holdings LLC bought a new stake in Polymet Mining Corp during the second quarter worth approximately $187,000. Finally, Renaissance Technologies LLC bought a new stake in Polymet Mining Corp during the fourth quarter worth approximately $226,000.
Shares of Polymet Mining Corp (PLM) opened at 0.6375 on Monday. The firm’s market cap is $203.12 million. Polymet Mining Corp has a 52-week low of $0.57 and a 52-week high of $0.98. The company has a 50-day moving average of $0.64 and a 200 day moving average of $0.72.
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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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