Platinum Group Metals (NYSE:PLG) Shares Up 3.2% – Should You Buy?

Platinum Group Metals Ltd. (NYSE:PLGGet Free Report) shot up 3.2% during mid-day trading on Wednesday . The company traded as high as $1.28 and last traded at $1.28. 434,847 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 378,219 shares. The stock had previously closed at $1.24.

Platinum Group Metals Stock Up 3.2 %

The business’s 50-day moving average price is $1.45 and its 200-day moving average price is $1.50. The firm has a market capitalization of $131.49 million, a PE ratio of -21.33 and a beta of 1.76.

Institutional Trading of Platinum Group Metals

Hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new position in Platinum Group Metals during the third quarter valued at approximately $1,263,000. Sanctuary Advisors LLC bought a new position in Platinum Group Metals during the third quarter valued at approximately $36,000. XTX Topco Ltd bought a new position in Platinum Group Metals during the third quarter valued at approximately $30,000. Finally, MCIA Inc bought a new position in Platinum Group Metals during the third quarter valued at approximately $41,000. 16.33% of the stock is owned by hedge funds and other institutional investors.

About Platinum Group Metals

(Get Free Report)

Platinum Group Metals Ltd. engages in the exploration and development of platinum and palladium properties. It explores for palladium, platinum, gold, copper, nickel, and rhodium deposits. The company holds 50.02% interest in the Waterberg project located on the Northern Limb of the Bushveld Igneous Complex, South Africa.

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