Platinum Group Metals (NYSE:PLG) Trading 4.7% Higher – Here’s Why

Platinum Group Metals Ltd. (NYSE:PLG) shares traded up 4.7% on Monday . The stock traded as high as $1.65 and last traded at $1.56. 954,917 shares were traded during 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 Price Performance

The company’s 50-day moving average is $1.71 and its two-hundred day moving average is $2.18. The firm has a market cap of $190.24 million, a P/E ratio of -25.00 and a beta of 1.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Platinum Group Metals by 29.2% in the fourth quarter. Millennium Management LLC now owns 1,313,835 shares of the company’s stock worth $3,101,000 after acquiring an additional 296,696 shares during the last quarter. UBS Group AG lifted its holdings in shares of Platinum Group Metals by 23.3% in the fourth quarter. UBS Group AG now owns 910,311 shares of the company’s stock worth $2,148,000 after acquiring an additional 171,734 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of 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 acquiring an additional 417,306 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Platinum Group Metals in the fourth quarter worth about $1,524,000. Finally, Renaissance Technologies LLC bought a new position in shares of Platinum Group Metals in the first quarter worth about $1,139,000. Institutional investors 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.