Platinum Group Metals (PLG) Trading Down 7.7%
Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) shares were down 7.7% on Monday . The stock traded as low as $0.36 and last traded at $0.36. Approximately 1,899,868 shares were traded during trading, an increase of 16% from the average daily volume of 1,637,834 shares. The stock had previously closed at $0.39.
The stock has a market capitalization of $58.35, a P/E ratio of -0.10 and a beta of 2.83.
A number of institutional investors and hedge funds have recently made changes to their positions in PLG. Franklin Resources Inc. grew its stake in Platinum Group Metals by 13.4% in the 2nd quarter. Franklin Resources Inc. now owns 27,878,488 shares of the basic materials company’s stock valued at $23,339,000 after buying an additional 3,300,000 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Platinum Group Metals by 21.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 14,400,146 shares of the basic materials company’s stock valued at $12,033,000 after buying an additional 2,517,845 shares during the last quarter. CQS Cayman LP grew its stake in Platinum Group Metals by 121.5% in the 2nd quarter. CQS Cayman LP now owns 2,048,639 shares of the basic materials company’s stock valued at $1,712,000 after buying an additional 1,123,753 shares during the last quarter. Finally, Virtu KCG Holdings LLC grew its stake in Platinum Group Metals by 2,826.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 348,742 shares of the basic materials company’s stock valued at $291,000 after buying an additional 336,825 shares during the last quarter.
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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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