Platinum Group Metals Ltd. (NYSE:PLG – Get Free Report)’s share price traded up 4.7% during trading on Monday . The stock traded as high as $1.65 and last traded at $1.56. 954,917 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,743,665 shares. The stock had previously closed at $1.49.
Platinum Group Metals Stock Performance
The company has a market cap of $197.85 million, a P/E ratio of -26.00 and a beta of 1.14. The stock has a 50-day simple moving average of $1.72 and a 200 day simple moving average of $2.19.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of PLG. NewEdge Advisors LLC boosted its stake in Platinum Group Metals by 47.3% during the first quarter. NewEdge Advisors LLC now owns 41,880 shares of the company’s stock worth $74,000 after buying an additional 13,450 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Platinum Group Metals in the 1st quarter valued at $1,139,000. Kopernik Global Investors LLC acquired a new position in shares of Platinum Group Metals in the 1st quarter valued at $635,000. SteelPeak Wealth LLC bought a new position in shares of Platinum Group Metals during the 1st quarter worth about $80,000. Finally, Hsbc Holdings PLC bought a new position in shares of Platinum Group Metals during the 1st quarter worth about $118,000. 16.33% of the stock is owned by institutional investors.
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.
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