Platinum Group Metals (TSE:PTM) Share Price Passes Above 200-Day Moving Average – Here’s Why

Platinum Group Metals Ltd. (TSE:PTM) (NYSE:PLG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.58 and traded as high as C$3.45. Platinum Group Metals shares last traded at C$3.43, with a volume of 120,086 shares trading hands.

Platinum Group Metals Price Performance

The firm has a market cap of C$400.43 million, a P/E ratio of -85.75 and a beta of 1.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.66 and a quick ratio of 11.34. The firm’s 50 day moving average is C$3.28 and its 200 day moving average is C$2.58.

Insider Transactions at Platinum Group Metals

In related news, Director Stuart Harshaw sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of C$4.51, for a total transaction of C$40,590.00. Following the completion of the transaction, the director owned 2,734 shares of the company’s stock, valued at C$12,330.34. This trade represents a 76.70% decrease in their position. Also, Director Frank Hallam sold 20,000 shares of Platinum Group Metals stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$4.16, for a total value of C$83,200.00. Following the transaction, the director owned 183,200 shares of the company’s stock, valued at C$762,112. The trade was a 9.84% decrease in their position. Insiders have sold a total of 43,078 shares of company stock valued at $186,948 in the last ninety days. 26.47% of the stock is currently owned by corporate insiders.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd is the operator of the Waterberg Project, a bulk underground PGM deposit located in South Africa. Waterberg was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Hanwa Co Ltd. Waterberg has the potential to be a large-scale, low-cost producer of palladium, platinum, rhodium, and gold.