Platinum Group Metals Sees Unusually Large Options Volume (NYSE:PLG)

Platinum Group Metals Ltd. (NYSE:PLG) was the recipient of unusually large options trading on Monday. Stock traders purchased 8,943 call options on the stock. This represents an increase of approximately 208% compared to the typical volume of 2,903 call options.

Platinum Group Metals Stock Performance

Shares of NYSE PLG opened at $3.37 on Tuesday. The firm has a market capitalization of $414.74 million, a P/E ratio of -56.17 and a beta of 1.19. Platinum Group Metals has a one year low of $0.99 and a one year high of $4.04. The company’s fifty day moving average is $2.53 and its two-hundred day moving average is $2.17.

Institutional Investors Weigh In On Platinum Group Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Platinum Group Metals by 75.7% during the second quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock worth $35,000 after purchasing an additional 9,834 shares during the last quarter. XTX Topco Ltd acquired a new stake in Platinum Group Metals in the second quarter valued at $70,000. J.W. Cole Advisors Inc. increased its position in shares of Platinum Group Metals by 125.3% in the second quarter. J.W. Cole Advisors Inc. now owns 301,800 shares of the company’s stock valued at $462,000 after buying an additional 167,850 shares in the last quarter. Trek Financial LLC raised its stake in shares of Platinum Group Metals by 57.3% during the 2nd quarter. Trek Financial LLC now owns 2,003,166 shares of the company’s stock worth $3,065,000 after buying an additional 730,053 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Platinum Group Metals during the 2nd quarter worth $328,000. Institutional investors and hedge funds own 16.33% of the company’s stock.

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.