This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

6 Junior Miner Stocks to Watch

3. PolyMet Mining (PLM), a development-stage company, explores and develops natural resource properties. The company's sole mineral property is the NorthMet Project, a polymetallic deposit located in northeastern Minnesota. The NorthMet property extends across 25.9 square miles and comprises two areas: the NorthMet site totaling 6.5 square miles of leased mineral rights; and the Erie Plant site totaling 19.38 square miles of freehold land. The company also owns a large processing facility, a tailings disposal facility and extensive associated infrastructure.

For the first quarter of 2012 ending April 30, 2011, Polymet reported cash and cash equivalents of $5.91 million. During the three months, the company invested $2.914 million in its NorthMet project. Loss per share stood at 1 cent.

Recently, PolyMet closed the second tranche of its previously announced private placement with Glencore by issuing five million common shares of the company at $2 per share for total net proceeds of $10 million.

Separately, Glencore has acquired 9.2 million shares of PolyMet at a price of $1.4233 per share from Cliffs Erie. Overall, Glencore now owns 17.89% of the common shares outstanding of PolyMet.

The two analysts covering the stock rate it a buy and have an average price target of $3.00, implying the stock could rise 77.5% over the next 12 months.
5 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NG $6.16 2.67%
PLM $0.91 -2.40%
SA $14.12 4.13%
TGB $0.61 3.80%
AAPL $95.03 -2.90%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs