Polymet Mining (NYSEAMERICAN:PLM) Stock Price Passes Below Fifty Day Moving Average of $0.00

Polymet Mining Corp (NYSEAMERICAN:PLM) (TSE:POM)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.00 and traded as low as $0.39. Polymet Mining shares last traded at $0.41, with a volume of 11,517 shares changing hands.

Polymet Mining (NYSEAMERICAN:PLM) (TSE:POM) last announced its quarterly earnings results on Monday, May 13th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01).

Several institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Polymet Mining in the first quarter worth approximately $74,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Polymet Mining in the first quarter worth approximately $68,000. Virtu Financial LLC boosted its position in shares of Polymet Mining by 454.3% in the first quarter. Virtu Financial LLC now owns 111,793 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 91,624 shares during the last quarter. LPL Financial LLC boosted its position in shares of Polymet Mining by 59.2% in the fourth quarter. LPL Financial LLC now owns 186,450 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 69,345 shares during the last quarter. Finally, SNS Financial Group LLC acquired a new stake in shares of Polymet Mining in the first quarter worth approximately $26,000.

Polymet Mining Company Profile (NYSEAMERICAN:PLM)

PolyMet Mining Corp. explores for and develops natural resource properties. Its primary mineral property is the NorthMet project that includes NorthMet copper-nickel-precious metals ore body covering an area of approximately 4,300 acres located in northeastern Minnesota. The company was formerly known as Fleck Resources Ltd.

Further Reading: Oversold

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