Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 434,600 shares, a drop of 6.3% from the July 31st total of 463,700 shares. Based on an average daily trading volume, of 86,400 shares, the days-to-cover ratio is presently 5.0 days. Currently, 1.0% of the company’s stock are sold short.
An institutional investor recently raised its position in Platinum Group Metals stock. Investec Asset Management LTD boosted its holdings in Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) by 221.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,338 shares of the basic materials company’s stock after purchasing an additional 296,367 shares during the quarter. Investec Asset Management LTD owned approximately 1.23% of Platinum Group Metals worth $566,000 at the end of the most recent quarter.
PLG stock opened at $1.62 on Monday. Platinum Group Metals has a twelve month low of $1.04 and a twelve month high of $2.17.
Platinum Group Metals Company Profile
Platinum Group Metals Ltd. engages in the acquisition, exploration, and development of platinum and palladium properties. It explores for platinum, palladium, rhodium, gold, ruthenium, iridium, copper, and nickel deposits. The company holds 50.02% interest in the Waterberg project located on the North Limb of the Western Bushveld complex, South Africa.
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