#6 - Platinum Group Metals (NYSE:PLG)
For investors looking to invest in platinum, Platinum Group Metals (NYSEAMERICAN:PLG) looks to be an intriguing option. The company is a development-stage exploration company for platinum and palladium. However, in addition to mining those precious metals, the company explores for a range of other metals including gold.
With a beta of 2.31 this is not a stock for the risk-averse, however, PLG stock is up 144% over the last 12 months. And that’s despite being down 21% so far in 2021. A big reason for the stock’s meteoric ascent is its interest in the Waterberg project in South Africa.
Covid-19 hit projects in Africa very hard. And as supply was crimped, demand for platinum and palladium is growing. Specifically, in the case of platinum, the metal is being used in green hydrogen production processes.
Platinum Group Metals has about 32% institutional ownership but from the third quarter to the fourth quarter, an increasing number of hedge funds had a stake in PLG stock.
About Platinum Group Metals
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.
Read More - Current Price
- $1.17
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
