PolyMet Mining Corp. (PLM): Great Progress On All Fronts?

The stock of PolyMet Mining Corp. (NYSE:PLM) has been Initiated to Buy by H.C. Wainwright in its latest research note that was published on September 08. PLM was given a price target of $2.1, with other Wall Street analysts also giving their reports regarding the stock.

PolyMet Mining Corp., which has current market capitalization of above $360 Million, published its last quarter earnings on March 31, 2019. During the first quarter of the year, PolyMet also recorded $-0.03 earnings per share (EPS) which is $0.01 above the $-0.01 estimated by Thomson Reuter’s analyst, leading to a surprise factor of -106.11%.

PLM surged by $0.02 during the normal trading session on Tuesday and reaching a high of $0.37 during the day while it closed the day at $0.36. The PolyMet stock had a low trading volume of 0.35 million shares on that day, which is low compared to the average daily volume of 445.77M shares. PLM has also lost 4.81% of its value over the past 7 days. However, the stock has declined by 26.90% in the 3 months of the year. Over the past six months meanwhile, it has lost 50.14% while it has lost 55.61% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -31.03% from its 3 months high price. However, taking another look at PLM will indicate that it is trading +4.35% away from its 90-day low. Looking at the bigger picture, the PolyMet Mining Corp. stock has dropped by -71.2% from its 52-week high while it has surged by +4.35% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 9.09%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 20%. Over the past 20 days, PolyMet’s Stochastic %K stood at 19.57% while its Stochastic %D was revealed to be 20.11%.