Franklin Resources Inc. Lowers Position in Platinum Group Metals Ltd. (NYSE:PLG)

Franklin Resources Inc. lessened its holdings in Platinum Group Metals Ltd. (NYSE:PLG - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,517,279 shares of the company's stock after selling 898,827 shares during the quarter. Franklin Resources Inc. owned 10.22% of Platinum Group Metals worth $13,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. J.W. Cole Advisors Inc. bought a new position in Platinum Group Metals in the fourth quarter valued at about $30,000. Sanctuary Advisors LLC acquired a new position in shares of Platinum Group Metals in the third quarter worth approximately $36,000. XTX Topco Ltd bought a new stake in Platinum Group Metals in the third quarter valued at approximately $30,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Platinum Group Metals during the 3rd quarter valued at approximately $1,263,000. 16.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Platinum Group Metals to a "sell" rating in a report on Tuesday, March 25th.

Platinum Group Metals Stock Up 8.6 %

NYSE:PLG traded up $0.10 during trading hours on Friday, reaching $1.26. The company had a trading volume of 1,188,338 shares, compared to its average volume of 510,544. The business's 50-day simple moving average is $1.25 and its two-hundred day simple moving average is $1.42. Platinum Group Metals Ltd. has a twelve month low of $0.99 and a twelve month high of $2.27. The firm has a market cap of $131.24 million, a price-to-earnings ratio of -21.00 and a beta of 1.66.

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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.