StockNews.com assumed coverage on shares of PolyMet Mining (NYSEAMERICAN:PLM – Free Report) (TSE:POM) in a research note published on Monday morning. The firm issued a hold rating on the basic materials company’s stock.

PolyMet Mining Price Performance

NYSEAMERICAN:PLM opened at $2.09 on Monday. The stock’s 50 day moving average price is $2.03 and its two-hundred day moving average price is $2.45. The firm has a market capitalization of $406.38 million, a price-to-earnings ratio of -9.09 and a beta of 0.56. PolyMet Mining has a 12-month low of $0.75 and a 12-month high of $3.43.

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PolyMet Mining (NYSEAMERICAN:PLM – Get Free Report) (TSE:POM) last released its quarterly earnings data on Thursday, August 10th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On PolyMet Mining

About PolyMet Mining

Several institutional investors and hedge funds have recently made changes to their positions in PLM. Price T Rowe Associates Inc. MD bought a new position in PolyMet Mining during the 1st quarter worth $27,000. SG Americas Securities LLC bought a new position in PolyMet Mining during the 4th quarter worth $29,000. UBS Group AG increased its stake in PolyMet Mining by 70.1% during the 3rd quarter. UBS Group AG now owns 10,704 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 4,410 shares during the period. Hsbc Holdings PLC increased its stake in PolyMet Mining by 38.8% during the 2nd quarter. Hsbc Holdings PLC now owns 44,540 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 12,456 shares during the period. Finally, BNP Paribas Arbitrage SNC bought a new position in PolyMet Mining during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 4.99% of the company’s stock.

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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.

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