Stock Traders Purchase High Volume of Call Options on Platinum Group Metals (NYSE:PLG)

Platinum Group Metals Ltd. (NYSE:PLG) was the target of unusually large options trading on Friday. Investors purchased 5,382 call options on the company. This is an increase of 125% compared to the typical daily volume of 2,391 call options.

Platinum Group Metals Stock Performance

Shares of PLG opened at $2.81 on Friday. Platinum Group Metals has a one year low of $0.99 and a one year high of $3.36. The stock has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.00. The company has a market capitalization of $328.05 million, a P/E ratio of -46.83 and a beta of 1.36.

Institutional Trading of Platinum Group Metals

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

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.