Platinum Group Metals (NYSE:PLG) Trading Down 11.8% – Should You Sell?

Platinum Group Metals Ltd. (NYSE:PLG)’s share price traded down 11.8% on Friday . The stock traded as low as $1.92 and last traded at $1.95. 4,535,822 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 4,211,364 shares. The stock had previously closed at $2.21.

Platinum Group Metals Stock Down 11.8%

The company has a market cap of $247.31 million, a P/E ratio of -32.50 and a beta of 1.14. The business has a fifty day moving average price of $2.59 and a 200-day moving average price of $2.38.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Targeted Financial Services LLC acquired a new stake in shares of Platinum Group Metals during the fourth quarter worth $62,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Platinum Group Metals in the fourth quarter valued at about $153,000. Quadrature Capital Ltd acquired a new position in shares of Platinum Group Metals in the fourth quarter valued at about $347,000. Oxford Asset Management LLP bought a new position in Platinum Group Metals during the fourth quarter worth about $85,000. Finally, Millennium Management LLC increased its position in Platinum Group Metals by 29.2% during 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 period. Institutional investors own 16.33% of the company’s stock.

About Platinum Group Metals

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.