Platinum Group Metals (NYSE:PLG) Shares Up 3.2% - Here's Why

Platinum Group Metals Ltd. (NYSE:PLG - Get Free Report) shares traded up 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.28 and last traded at $1.28. 434,847 shares traded hands during trading, an increase of 15% from the average session volume of 378,219 shares. The stock had previously closed at $1.24.

Platinum Group Metals Stock Performance

The company has a 50 day moving average of $1.45 and a 200-day moving average of $1.50. The stock has a market cap of $131.50 million, a price-to-earnings ratio of -21.33 and a beta of 1.76.

Institutional Investors Weigh In On Platinum Group Metals

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Platinum Group Metals during the 3rd quarter worth about $1,263,000. MCIA Inc acquired a new stake in shares of Platinum Group Metals during the 3rd quarter worth about $41,000. Sanctuary Advisors LLC acquired a new stake in shares of Platinum Group Metals during the 3rd quarter worth about $36,000. Finally, XTX Topco Ltd acquired a new stake in shares of Platinum Group Metals during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 16.33% of the company's stock.

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.