Platinum Group Metals (NYSE:PLG) Trading Down 1.6% – What’s Next?

Platinum Group Metals Ltd. (NYSE:PLG)’s stock price traded down 1.6% during trading on Monday . The stock traded as low as $1.26 and last traded at $1.26. 438,623 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 490,587 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Platinum Group Metals to a “sell” rating in a research report on Tuesday, February 11th.

Platinum Group Metals Stock Performance

The firm’s 50-day moving average price is $1.29 and its 200 day moving average price is $1.44. The company has a market capitalization of $134.85 million, a price-to-earnings ratio of -21.83 and a beta of 1.80.

Hedge Funds Weigh In On Platinum Group Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd increased its position in Platinum Group Metals by 57.5% during the 4th quarter. XTX Topco Ltd now owns 33,588 shares of the company’s stock worth $43,000 after purchasing an additional 12,265 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Platinum Group Metals in the 4th quarter valued at $30,000. Vivaldi Capital Management LP bought a new stake in shares of Platinum Group Metals in the 4th quarter valued at $30,000. Mountain Capital Investment Advisors Inc. boosted its stake in Platinum Group Metals by 90.6% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 51,007 shares of the company’s stock worth $68,000 after acquiring an additional 24,250 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Platinum Group Metals during the third quarter worth $36,000. 16.33% of the stock is currently owned by institutional investors and hedge funds.

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.