Platinum Group Metals (NYSE:PLG) Trading 2.9% Higher

Platinum Group Metals Ltd. (NYSE:PLG)’s share price traded up 2.9% during mid-day trading on Wednesday . The company traded as high as $1.45 and last traded at $1.44. 211,831 shares changed hands during trading, a decline of 5% from the average session volume of 223,070 shares. The stock had previously closed at $1.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Platinum Group Metals to a “sell” rating in a research note on Wednesday, February 7th.

Platinum Group Metals Price Performance

The business’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.09. The firm has a market capitalization of $147.57 million, a price-to-earnings ratio of -24.00 and a beta of 1.59.

Platinum Group Metals (NYSE:PLG) last issued its earnings results on Friday, January 12th. The company reported ($0.02) earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. acquired a new position in Platinum Group Metals during the first quarter worth about $25,000. Jane Street Group LLC acquired a new position in Platinum Group Metals during the fourth quarter worth about $31,000. Shepherd Financial Partners LLC acquired a new stake in shares of Platinum Group Metals in the first quarter valued at approximately $42,000. Goldman Sachs Group Inc. acquired a new stake in shares of Platinum Group Metals in the first quarter valued at approximately $51,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Platinum Group Metals in the first quarter valued at approximately $55,000. 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.