Trade Report: The Zacks: PolyMet Mining Corp. (PLM) Given Average Rating of “Strong Buy” by Brokerages

The Zacks: PolyMet Mining Corp. (PLM) Given Average Rating of “Strong Buy” by Brokerages

PolyMet Mining Corp. (NYSE:PLM) has received an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $2.45 for the company and are expecting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned PolyMet Mining Corp. an industry rank of 21 out of 265 based on the ratings given to related companies.

A number of equities analysts have commented on the company. Zacks Investment Research raised PolyMet Mining Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Paradigm Capital reaffirmed a “buy” rating and issued a $1.30 price target (down previously from $2.15) on shares of PolyMet Mining Corp. in a report on Tuesday, July 19th. Finally, CIBC reaffirmed a “sector perform” rating and issued a $1.20 price target on shares of PolyMet Mining Corp. in a report on Wednesday, July 20th.

A hedge fund recently raised its stake in PolyMet Mining Corp. stock. US Bancorp DE increased its stake in shares of PolyMet Mining Corp. (NYSE:PLM) by 793.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 714,594 shares of the company’s stock after buying an additional 634,594 shares during the period. US Bancorp DE owned 0.26% of PolyMet Mining Corp. worth $550,000 at the end of the most recent reporting period.

Shares of PolyMet Mining Corp. (NYSE:PLM) opened at 0.7361 on Monday. PolyMet Mining Corp. has a 12 month low of $0.68 and a 12 month high of $1.28. The company’s market capitalization is $204.48 million. The firm’s 50-day moving average price is $0.83 and its 200-day moving average price is $0.83.

About PolyMet Mining Corp.

PolyMet Mining Corp. (PolyMet) is a development-stage company. The Company is engaged in the exploration and development of natural resource properties. The Company’s sole mineral property is the NorthMet Project, which is located in St. Louis County in the Mesabi Iron Range mining district approximately 60 miles north of Duluth, Minnesota, the United States.

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