After dropping by over 30% immediately after the Russian forces entered Ukraine, Polymetal stock prices have risen by over 8% today after sanctions on Russia failed to directly target the company’s operations.
There were speculations that the majority of sanctions would be targeted towards mining companies but most of the mining companies operating in Russia can now breathe after being spared in the sanctions.
To help stock investors interested in investing in Polymetal international stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Polymetal stock?
Polymetal stock is the stock of Polymetal International PLC and it trades on the London Stock Exchange under the ticker LON: POLY.
In a nutshell, Polymetal International plc is an Anglo-Russian precious metals mining company that is registered in Saint Helier, Jersey.
Polymetal is listed on both the London Stock Exchange and Moscow Exchange. It is also part of the FTSE 100 Index, RSX, Euromoney Global Gold indices, and FTSE Gold mines.
Should I buy POLY stock today?
If you are looking to invest in a stock of a mining company, then the POLY stock could be a good choice.
However, you must be cognizant of the current geopolitical situation between Russia and Ukraine that seems to be heading to a serious confrontation and even if the current sanctions do not affect Polymetal international company, the future remains bleak.
POLY stock price prediction
Despite today’s POLY stock price hike, analysts are still skeptical especially if the situation in Ukraine escalates further and more sanctions are issued. As a result, most believe the stock price shall plateau at its current range below £800.
$POLY social media coverage
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