Mairs & Power, Inc. recently announced the acquisition of new stake in PolyMet Mining Corp. (AMEX:PLM). The institutional investor has increased its shareholding in the Basic Materials company by 8.10% to 1.0 million shares with purchase of 75000.0 shares. This fresh investment now brings its stake to 0.10% valued currently at $0.48 million. In addition, Raymond James Financial Services.. raised its holdings by 0.33 million to 0.33 million shares. And Barclays Capital, Inc. has lifted its position by 1,950.07% or 0.27 million shares – to 0.28 million shares.
With over 1.29 million PolyMet Mining Corp. (PLM) shares trading Monday and a closing price of $3.16 on the day, the dollar volume was approximately $4.09 million. The shares have shown a negative weekly performance of -6.78% and its price on 08/31/20 lost nearly -1.56%. Currently, there are 100.64M common shares owned by the public and among those 28.47M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PLM have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $15.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PolyMet Mining Corp. stock is 2.00 for the next 12 months. The average price target is -26.4% below its last price level and a downside to the estimated low will see the stock gain 78.93% over that period. But an upside of 78.93% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.
Shares of PolyMet Mining Corp. (AMEX: PLM) opened at $3.13, down -$0.08 from a prior closing price of $3.21. However, the script later closed the day at $3.16, down -1.56%. The company’s stock has a 5-day price change of -6.78% and 28.09% over the past three months. PLM shares are trading 24.14% year to date (YTD), with the 12-month market performance down to -6.81% lower. It has a 12-month low price of $1.50 and touched a high of $9.70 over the same period. Currently, 1.29 million shares have been traded, compared to an average intraday trading volume of 1.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -26.97%, -27.80%, and -0.18% respectively.
Institutional ownership of PolyMet Mining Corp. (AMEX: PLM) shares accounts for 7.40% of the company’s 100.64M shares outstanding. Mutual fund holders own 0.20%, while other institutional holders and individual stakeholders account for 0.72% and — respectively.
It has a market capitalization of $339.92M and a beta (3y monthly) value of 0.92. The earnings-per-share (ttm) stands at -$0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.55% over the week and 9.45% over the month.
Analysts forecast that PolyMet Mining Corp. (PLM) will achieve an EPS of -$0.01 for the current quarter, $0 for the next quarter and -$0.03 for 2019. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -83.60%, and 0.00% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -26.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate PolyMet Mining Corp. (PLM) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PLM, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on September 08, 2014, with the firm’s price target at $2.10.