Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 6,591,973 shares, an increase of 5.6% from the January 12th total of 6,243,327 shares. Approximately 4.5% of the shares of the company are short sold. Based on an average trading volume of 1,160,060 shares, the days-to-cover ratio is presently 5.7 days.
A hedge fund recently raised its stake in Platinum Group Metals stock. Virtu KCG Holdings LLC raised its stake in shares of Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) by 2,826.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 348,742 shares of the basic materials company’s stock after buying an additional 336,825 shares during the period. Virtu KCG Holdings LLC owned about 0.23% of Platinum Group Metals worth $291,000 at the end of the most recent quarter.
Shares of Platinum Group Metals (NYSEAMERICAN PLG) traded down $0.03 on Friday, reaching $0.33. The company’s stock had a trading volume of 1,268,565 shares, compared to its average volume of 1,358,956. The firm has a market cap of $59.52, a PE ratio of -0.09 and a beta of 2.84. Platinum Group Metals has a 12 month low of $0.28 and a 12 month high of $2.32.
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About Platinum Group Metals
Platinum Group Metals Ltd. is an exploration- and development-stage Company. The Company is focused on exploration and development of platinum. The Company conducts work on mineral properties it has staked or acquired by way of option agreements in the Republic of South Africa and in Canada. Its business is focused on production ramp up at the Maseve Mine, and the exploration and initial engineering on the Waterberg platinum deposit, which includes the Waterberg Joint Venture Project (the Waterberg JV Project) and the adjoining Waterberg Extension Project.
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