Zacks Research Upgrades Platinum Group Metals (NYSE:PLG) to Hold

Platinum Group Metals (NYSE:PLG) was upgraded by research analysts at Zacks Research to a “hold” rating in a report released on Monday,Zacks.com reports.

Platinum Group Metals Stock Performance

PLG opened at $1.30 on Monday. The firm has a market cap of $166.25 million, a P/E ratio of -21.67 and a beta of 1.19. Platinum Group Metals has a 52-week low of $1.25 and a 52-week high of $4.04. The business’s fifty day moving average is $1.53 and its 200-day moving average is $2.02.

Institutional Investors Weigh In On Platinum Group Metals

A number of large investors have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in Platinum Group Metals in the 1st quarter valued at about $27,000. PFG Investments LLC bought a new stake in shares of Platinum Group Metals during the 4th quarter worth approximately $29,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Platinum Group Metals during the 4th quarter worth approximately $31,000. Cetera Investment Advisers boosted its position in shares of Platinum Group Metals by 75.7% during the 2nd quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock worth $35,000 after acquiring an additional 9,834 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Platinum Group Metals during the 4th quarter worth approximately $41,000. 16.33% of the stock is currently owned by institutional investors and hedge funds.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd is a mineral exploration and development company focused on the discovery and advancement of platinum group metal (PGM) deposits. The company’s flagship asset is the Waterberg Joint Venture Project located in South Africa’s Bushveld Complex, one of the world’s premier PGM-producing regions. In addition to its Waterberg interests, Platinum Group Metals holds the Marathon PGM project near Thunder Bay, Ontario, which is being advanced towards feasibility on the strength of its high-grade PGM and gold mineralization.

Since its inception, the company has pursued a strategy of combining regional geological expertise with strategic partnerships to de-risk project development and enhance shareholder value.