Platinum Group Metals Ltd. (NYSE:PLG – Get Free Report) fell 3% during mid-day trading on Monday . The stock traded as low as $1.26 and last traded at $1.29. 952,817 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,504,347 shares. The stock had previously closed at $1.33.
Analyst Upgrades and Downgrades
Separately, Zacks Research raised Platinum Group Metals to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.
Read Our Latest Stock Analysis on Platinum Group Metals
Platinum Group Metals Price Performance
Institutional Trading of Platinum Group Metals
Several large investors have recently added to or reduced their stakes in the company. PFG Investments LLC acquired a new stake in shares of Platinum Group Metals in the fourth quarter worth $29,000. Dynamic Advisor Solutions LLC acquired a new position in Platinum Group Metals during the fourth quarter valued at $31,000. Kestra Advisory Services LLC acquired a new position in Platinum Group Metals during the first quarter valued at $27,000. Commonwealth Equity Services LLC acquired a new position in Platinum Group Metals during the fourth quarter valued at $41,000. Finally, Cetera Investment Advisers lifted its stake in Platinum Group Metals by 75.7% in the 2nd quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock worth $35,000 after acquiring an additional 9,834 shares in the last quarter. 16.33% of the stock is owned by institutional investors and hedge funds.
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.
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