Platinum Group Metals (NYSE:PLG) Trading Down 1.1% – Here’s What Happened

Shares of Platinum Group Metals Ltd. (NYSE:PLG) were down 1.1% during mid-day trading on Friday . The stock traded as low as $1.78 and last traded at $1.84. Approximately 1,584,220 shares changed hands during trading, an increase of 16% from the average daily volume of 1,368,238 shares. The stock had previously closed at $1.86.

Platinum Group Metals Stock Down 1.1%

The business has a fifty day moving average price of $2.30 and a 200-day moving average price of $1.80. The company has a market cap of $214.81 million, a P/E ratio of -30.67 and a beta of 1.62.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLG. Millennium Management LLC boosted its position in shares of Platinum Group Metals by 310.9% in the third quarter. Millennium Management LLC now owns 1,017,139 shares of the company’s stock valued at $2,695,000 after acquiring an additional 769,585 shares during the period. Trek Financial LLC raised its stake in Platinum Group Metals by 57.3% in the 2nd quarter. Trek Financial LLC now owns 2,003,166 shares of the company’s stock worth $3,065,000 after purchasing an additional 730,053 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Platinum Group Metals by 130.8% in the 3rd quarter. Two Sigma Investments LP now owns 736,330 shares of the company’s stock valued at $1,951,000 after purchasing an additional 417,306 shares during the period. Virtu Financial LLC acquired a new position in shares of Platinum Group Metals during the 3rd quarter worth approximately $1,095,000. Finally, UBS Group AG grew its position in shares of Platinum Group Metals by 81.9% during the 3rd quarter. UBS Group AG now owns 738,577 shares of the company’s stock worth $1,957,000 after purchasing an additional 332,595 shares in the last quarter. Institutional investors own 16.33% of the company’s stock.

Platinum Group Metals Company Profile

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.