StockNews.com Begins Coverage on PolyMet Mining (NYSEAMERICAN:PLM)

Analysts at StockNews.com started coverage on shares of PolyMet Mining (NYSEAMERICAN:PLM) (TSE:POM) in a report issued on Saturday. The brokerage set a “hold” rating on the basic materials company’s stock.

PolyMet Mining Stock Down 0.5 %

NYSEAMERICAN:PLM opened at $2.09 on Friday. The firm has a market capitalization of $406.38 million, a P/E ratio of -9.09 and a beta of 0.55. The business’s fifty day moving average is $2.03. PolyMet Mining has a 12 month low of $0.75 and a 12 month high of $3.43.

PolyMet Mining (NYSEAMERICAN:PLM) (TSE:POM) last posted its earnings results on Thursday, August 10th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of PolyMet Mining by 27.4% during the fourth quarter. JPMorgan Chase & Co. now owns 19,904 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 4,279 shares in the last quarter. UBS Group AG increased its stake in shares of PolyMet Mining by 70.1% during the third quarter. UBS Group AG now owns 10,704 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 4,410 shares in the last quarter. Vanguard Group Inc. grew its stake in PolyMet Mining by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 131,643 shares of the basic materials company’s stock valued at $552,000 after acquiring an additional 4,636 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in PolyMet Mining by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 66,038 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 4,854 shares in the last quarter. Finally, USAdvisors Wealth Management LLC grew its stake in PolyMet Mining by 10.9% during the 1st quarter. USAdvisors Wealth Management LLC now owns 50,822 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 4,980 shares in the last quarter. Hedge funds and other institutional investors own 3.09% of the company’s stock.

PolyMet Mining Company Profile

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, platinum, palladium, gold, and silver mineralization covering an area of approximately 5,980 acres located in northeastern Minnesota, the United States.