Mountain Capital Investment Advisors Inc. increased its stake in Platinum Group Metals Ltd. (NYSE:PLG – Free Report) by 90.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 51,007 shares of the company’s stock after buying an additional 24,250 shares during the quarter. Mountain Capital Investment Advisors Inc.’s holdings in Platinum Group Metals were worth $68,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Platinum Group Metals during the 3rd quarter valued at approximately $1,263,000. XTX Topco Ltd purchased a new stake in shares of Platinum Group Metals in the 3rd quarter valued at about $30,000. Sanctuary Advisors LLC bought a new stake in Platinum Group Metals during the third quarter valued at approximately $36,000. J.W. Cole Advisors Inc. purchased a new position in Platinum Group Metals in the fourth quarter worth $30,000. Finally, Trek Financial LLC bought a new position in shares of Platinum Group Metals during the 4th quarter valued at about $1,230,000. 16.33% of the stock is currently owned by hedge funds and other institutional investors.
Platinum Group Metals Trading Up 14.9 %
PLG opened at $1.16 on Thursday. Platinum Group Metals Ltd. has a 12 month low of $0.99 and a 12 month high of $2.27. The business’s 50-day moving average price is $1.25 and its 200-day moving average price is $1.43. The company has a market cap of $120.15 million, a P/E ratio of -19.33 and a beta of 1.66.
Analyst Ratings Changes
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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.
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