Platinum Group Metals Limited (NYSEAMERICAN:PLG) Sees Significant Decrease in Short Interest

Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 354,600 shares, a decrease of 5.6% from the December 15th total of 375,800 shares. Based on an average trading volume of 93,900 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.9% of the shares of the company are short sold.

Platinum Group Metals stock opened at $1.78 on Wednesday. Platinum Group Metals has a 12-month low of $1.04 and a 12-month high of $2.17.

Platinum Group Metals (NYSEAMERICAN:PLG) (TSE:PTM) last released its earnings results on Monday, November 25th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter.

A hedge fund recently raised its stake in Platinum Group Metals stock. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) by 277.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,133,503 shares of the basic materials company’s stock after buying an additional 7,445,758 shares during the quarter. Platinum Group Metals comprises approximately 1.1% of Liberty Mutual Group Asset Management Inc.’s holdings, making the stock its 5th largest position. Liberty Mutual Group Asset Management Inc. owned about 17.30% of Platinum Group Metals worth $14,896,000 as of its most recent SEC filing.

About Platinum Group Metals

Platinum Group Metals Ltd. engages in the acquisition, exploration, and development of platinum and palladium properties. It explores for platinum, palladium, rhodium, gold, ruthenium, iridium, copper, and nickel deposits. The company holds 50.02% interest in the Waterberg project located on the North Limb of the Western Bushveld complex, South Africa.

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