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

StockNews.com began coverage on shares of PolyMet Mining (NYSEAMERICAN:PLM) (TSE:POM) in a research report released on Friday. The firm issued a hold rating on the basic materials company’s stock.

PolyMet Mining Price Performance

Shares of PolyMet Mining stock opened at $2.08 on Friday. The company has a market capitalization of $404.44 million, a P/E ratio of -9.04 and a beta of 0.55. The business has a 50-day moving average price of $2.03. PolyMet Mining has a one year low of $0.75 and a one year high of $3.43.

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

Hedge Funds Weigh In On PolyMet Mining

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew 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 acquiring an additional 4,279 shares during the last quarter. UBS Group AG grew 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 acquiring an additional 4,410 shares during the last quarter. Vanguard Group Inc. boosted its position in PolyMet Mining by 3.7% in the first quarter. Vanguard Group Inc. now owns 131,643 shares of the basic materials company’s stock valued at $552,000 after buying an additional 4,636 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PolyMet Mining by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 66,038 shares of the basic materials company’s stock valued at $277,000 after buying an additional 4,854 shares during the last quarter. Finally, USAdvisors Wealth Management LLC boosted its position in PolyMet Mining by 10.9% in the first quarter. USAdvisors Wealth Management LLC now owns 50,822 shares of the basic materials company’s stock valued at $109,000 after buying an additional 4,980 shares during the last quarter. 3.09% of the stock is currently owned by institutional investors.

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.