Platinum Group Metals (NYSE:PLG) Shares Down 0.4% – Time to Sell?

Shares of Platinum Group Metals Ltd. (NYSE:PLG) dropped 0.4% on Thursday . The company traded as low as $2.19 and last traded at $2.26. Approximately 1,376,797 shares traded hands during trading, a decline of 73% from the average daily volume of 5,026,997 shares. The stock had previously closed at $2.27.

Platinum Group Metals Price Performance

The stock has a market capitalization of $286.57 million, a price-to-earnings ratio of -37.67 and a beta of 1.16. The firm’s fifty day moving average is $2.65 and its 200-day moving average is $2.27.

Institutional Investors Weigh In On Platinum Group Metals

A number of institutional investors have recently made changes to their positions in PLG. Trek Financial LLC lifted its stake in Platinum Group Metals by 57.3% during the second 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 during the last quarter. Millennium Management LLC lifted its position in shares of Platinum Group Metals by 29.2% in the 4th quarter. Millennium Management LLC now owns 1,313,835 shares of the company’s stock worth $3,101,000 after buying an additional 296,696 shares during the last quarter. UBS Group AG lifted its position in shares of Platinum Group Metals by 23.3% in the 4th quarter. UBS Group AG now owns 910,311 shares of the company’s stock worth $2,148,000 after buying an additional 171,734 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of 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 buying an additional 417,306 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Platinum Group Metals during the 4th quarter valued at about $1,524,000. 16.33% of the stock is currently owned by institutional investors.

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.