Platinum Group Metals (NYSE:PLG) Stock Price Up 1.7% – Should You Buy?

Shares of Platinum Group Metals Ltd. (NYSE:PLG) shot up 1.7% during trading on Monday . The company traded as high as $1.80 and last traded at $1.76. 387,582 shares changed hands during trading, a decline of 8% from the average session volume of 419,533 shares. The stock had previously closed at $1.73.

Platinum Group Metals Price Performance

The company has a market capitalization of $167.38 million, a PE ratio of -27.17 and a beta of 1.73. The business’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.60.

Institutional Investors Weigh In On Platinum Group Metals

A number of institutional investors have recently made changes to their positions in PLG. XTX Topco Ltd acquired a new position in shares of Platinum Group Metals in the third quarter valued at approximately $30,000. Sanctuary Advisors LLC acquired a new position in Platinum Group Metals during the 3rd quarter worth approximately $36,000. MCIA Inc acquired a new position in Platinum Group Metals during the 3rd quarter worth approximately $41,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Platinum Group Metals during the 3rd quarter worth approximately $1,263,000. 16.33% of the stock is currently owned by institutional investors and hedge funds.

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.