PolyMet Mining (NYSEAMERICAN:PLM) Stock Crosses Above 200 Day Moving Average of $3.09

PolyMet Mining Corp. (NYSEAMERICAN:PLMGet Rating) (TSE:POM)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.09 and traded as high as $3.32. PolyMet Mining shares last traded at $3.26, with a volume of 37,270 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com began coverage on PolyMet Mining in a report on Saturday, September 3rd. They set a “sell” rating on the stock.

PolyMet Mining Stock Down 0.3 %

The company has a 50 day simple moving average of $2.94 and a two-hundred day simple moving average of $3.09. The company has a market capitalization of $330.80 million, a P/E ratio of -13.04 and a beta of 0.67.

PolyMet Mining (NYSEAMERICAN:PLMGet Rating) (TSE:POM) last announced its earnings results on Thursday, August 11th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter.

Institutional Trading of PolyMet Mining

A number of large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of PolyMet Mining by 13.7% in the second quarter. State Street Corp now owns 407,182 shares of the basic materials company’s stock valued at $1,120,000 after purchasing an additional 49,093 shares during the period. Ronald Blue Trust Inc. purchased a new stake in shares of PolyMet Mining in the second quarter valued at approximately $42,000. Rhumbline Advisers raised its stake in PolyMet Mining by 87.6% in the second quarter. Rhumbline Advisers now owns 39,287 shares of the basic materials company’s stock worth $108,000 after buying an additional 18,340 shares in the last quarter. NorthRock Partners LLC bought a new position in PolyMet Mining in the second quarter worth approximately $53,000. Finally, US Bancorp DE raised its stake in PolyMet Mining by 25.5% in the second quarter. US Bancorp DE now owns 101,740 shares of the basic materials company’s stock worth $280,000 after buying an additional 20,645 shares in the last quarter. Hedge funds and other institutional investors own 3.90% of the company’s stock.

About PolyMet Mining

(Get Rating)

PolyMet Mining Corp., through its subsidiary, Poly Met Mining, Inc, engages in the exploration and development of natural resource properties. Its primary mineral property is the NorthMet project, a polymetallic project that hosts copper, nickel, cobalt, gold, silver, and platinum group metal mineralization covering an area of approximately 4,300 acres located in northeastern Minnesota, the United States.

Further Reading

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