PolyMet Mining (NYSEAMERICAN:PLM) Share Price Passes Below 200 Day Moving Average – Here’s Why

PolyMet Mining Corp. (NYSEAMERICAN:PLM) (TSE:POM)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.10 and traded as low as $2.10. PolyMet Mining shares last traded at $2.10, with a volume of 486,700 shares trading hands.

PolyMet Mining Price Performance

The company has a 50-day simple moving average of $2.10 and a 200-day simple moving average of $2.10. The stock has a market cap of $408.37 million, a PE ratio of -9.13 and a beta of 0.52.

PolyMet Mining Company Profile

PolyMet Mining Corp (NYSEAMERICAN:PLM) is a mineral exploration and development company focused on advancing its flagship NorthMet copper‐nickel‐precious metals project in northeastern Minnesota’s Mesabi Range. The firm holds exclusive rights to the NorthMet deposit, a polymetallic sulfide resource containing copper, nickel, cobalt, platinum, palladium, gold and silver. PolyMet’s primary business activity involves completing detailed engineering studies, securing key permits and preparing for the construction of an open‐pit mine and associated processing facilities.

The NorthMet project is situated near the city of Hoyt Lakes and benefits from existing infrastructure, including roads, power lines and water supplies.