Platinum Group Metals (NYSE:PLG) Stock Rating Upgraded by StockNews.com

Platinum Group Metals (NYSE:PLG) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research note issued to investors on Tuesday.

Platinum Group Metals Stock Performance

NYSE PLG traded down $0.05 on Tuesday, reaching $1.33. The company had a trading volume of 278,230 shares, compared to its average volume of 379,238. The firm has a market capitalization of $136.91 million, a price-to-earnings ratio of -22.17 and a beta of 1.78. Platinum Group Metals has a 1-year low of $0.96 and a 1-year high of $2.27. The company’s fifty day moving average is $1.34 and its 200-day moving average is $1.46.

Hedge Funds Weigh In On Platinum Group Metals

A number of large investors have recently modified their holdings of PLG. XTX Topco Ltd acquired a new position in shares of Platinum Group Metals during the 3rd quarter worth about $30,000. J.W. Cole Advisors Inc. acquired a new position in shares of Platinum Group Metals during the 4th quarter worth about $30,000. Sanctuary Advisors LLC acquired a new position in shares of Platinum Group Metals during the 3rd quarter worth about $36,000. MCIA Inc acquired a new position in shares of Platinum Group Metals during the 3rd quarter worth about $41,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Platinum Group Metals in the 3rd quarter valued at about $1,263,000. 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.