Platinum Group Metals (NYSE:PLG) Stock Price Down 0.4% – Here’s Why

Platinum Group Metals Ltd. (NYSE:PLG) was down 0.4% during mid-day trading on Thursday . The company traded as low as $2.19 and last traded at $2.26. Approximately 1,376,797 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 5,026,997 shares. The stock had previously closed at $2.27.

Platinum Group Metals Trading Down 0.4%

The firm has a market capitalization of $286.57 million, a price-to-earnings ratio of -37.67 and a beta of 1.16. The business has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $2.27.

Institutional Trading of Platinum Group Metals

A number of large investors have recently modified their holdings of PLG. Millennium Management LLC boosted its position in Platinum Group Metals by 310.9% during the 3rd quarter. Millennium Management LLC now owns 1,017,139 shares of the company’s stock worth $2,695,000 after acquiring 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 second quarter. Trek Financial LLC now owns 2,003,166 shares of the company’s stock valued at $3,065,000 after purchasing an additional 730,053 shares during the period. Walleye Capital LLC bought a new stake in shares of Platinum Group Metals during the fourth quarter valued at about $1,524,000. Two Sigma Investments LP lifted its holdings in Platinum Group Metals by 130.8% in the third quarter. Two Sigma Investments LP now owns 736,330 shares of the company’s stock worth $1,951,000 after purchasing an additional 417,306 shares during the period. Finally, Virtu Financial LLC bought a new position in Platinum Group Metals in the 3rd quarter valued at about $1,095,000. Institutional investors and hedge funds own 16.33% of the company’s stock.

Platinum Group Metals Company Profile

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.