Traders Buy High Volume of Call Options on Platinum Group Metals (NYSE:PLG)

Platinum Group Metals Ltd. (NYSE:PLG) was the target of some unusual options trading on Friday. Investors bought 5,382 call options on the company. This is an increase of approximately 125% compared to the average daily volume of 2,391 call options.

Platinum Group Metals Trading Up 3.3%

NYSE PLG opened at $2.81 on Friday. The business’s 50-day moving average price is $2.31 and its 200 day moving average price is $2.00. Platinum Group Metals has a twelve month low of $0.99 and a twelve month high of $3.36. The company has a market capitalization of $328.05 million, a PE ratio of -46.83 and a beta of 1.36.

Institutional Investors Weigh In On Platinum Group Metals

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in Platinum Group Metals by 310.9% during the third quarter. Millennium Management LLC now owns 1,017,139 shares of the company’s stock worth $2,695,000 after purchasing an additional 769,585 shares during the period. Trek Financial LLC increased its holdings in shares of Platinum Group Metals by 57.3% during the 2nd quarter. Trek Financial LLC now owns 2,003,166 shares of the company’s stock worth $3,065,000 after buying an additional 730,053 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Platinum Group Metals by 130.8% in the 3rd quarter. Two Sigma Investments LP now owns 736,330 shares of the company’s stock worth $1,951,000 after buying an additional 417,306 shares during the period. Virtu Financial LLC purchased a new position in shares of Platinum Group Metals in the 3rd quarter worth $1,095,000. Finally, UBS Group AG boosted its holdings in Platinum Group Metals by 81.9% in the third quarter. UBS Group AG now owns 738,577 shares of the company’s stock valued at $1,957,000 after acquiring an additional 332,595 shares during the last quarter. 16.33% of the stock is currently owned by hedge funds and other institutional investors.

About Platinum Group Metals

Platinum Group Metals Ltd is a mineral exploration and development company focused on the discovery and advancement of platinum group metal (PGM) deposits. The company’s flagship asset is the Waterberg Joint Venture Project located in South Africa’s Bushveld Complex, one of the world’s premier PGM-producing regions. In addition to its Waterberg interests, Platinum Group Metals holds the Marathon PGM project near Thunder Bay, Ontario, which is being advanced towards feasibility on the strength of its high-grade PGM and gold mineralization.

Since its inception, the company has pursued a strategy of combining regional geological expertise with strategic partnerships to de-risk project development and enhance shareholder value.