Platinum Group Metals (PLG) Trading Up 6.9%
Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) shares were up 6.9% during trading on Tuesday . The company traded as high as $0.31 and last traded at $0.31. Approximately 529,026 shares changed hands during trading, a decline of 26% from the average daily volume of 714,359 shares. The stock had previously closed at $0.29.
The firm has a market capitalization of $42.86, a PE ratio of -0.08 and a beta of 2.84.
Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu KCG Holdings LLC raised its position in Platinum Group Metals by 2,826.4% in the second quarter. Virtu KCG Holdings LLC now owns 348,742 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 336,825 shares in the last quarter. CQS Cayman LP raised its position in Platinum Group Metals by 121.5% in the second quarter. CQS Cayman LP now owns 2,048,639 shares of the basic materials company’s stock worth $1,712,000 after purchasing an additional 1,123,753 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Platinum Group Metals by 21.2% in the second quarter. Donald Smith & CO. Inc. now owns 14,400,146 shares of the basic materials company’s stock worth $12,033,000 after purchasing an additional 2,517,845 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Platinum Group Metals by 13.4% in the second quarter. Franklin Resources Inc. now owns 27,878,488 shares of the basic materials company’s stock worth $23,339,000 after purchasing an additional 3,300,000 shares in the last quarter.
About Platinum Group Metals
Platinum Group Metals Ltd. is an exploration- and development-stage Company. The Company is focused on exploration and development of platinum. The Company conducts work on mineral properties it has staked or acquired by way of option agreements in the Republic of South Africa and in Canada. Its business is focused on production ramp up at the Maseve Mine, and the exploration and initial engineering on the Waterberg platinum deposit, which includes the Waterberg Joint Venture Project (the Waterberg JV Project) and the adjoining Waterberg Extension Project.
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