Platinum Group Metals Sees Unusually High Options Volume (NYSE:PLG)

Platinum Group Metals Ltd. (NYSE:PLG) saw unusually large options trading on Friday. Traders acquired 5,382 call options on the company. This is an increase of 125% compared to the average daily volume of 2,391 call options.

Institutional Trading of Platinum Group Metals

Several hedge funds have recently made changes to their positions in PLG. Apella Capital LLC purchased a new position in Platinum Group Metals during the 2nd quarter valued at about $31,000. Cetera Investment Advisers grew its position in shares of Platinum Group Metals by 75.7% in the second quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock valued at $35,000 after purchasing an additional 9,834 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Platinum Group Metals during the 3rd quarter worth approximately $46,000. Kestra Private Wealth Services LLC acquired a new position in shares of Platinum Group Metals during the 3rd quarter worth approximately $67,000. Finally, XTX Topco Ltd purchased a new stake in Platinum Group Metals in the 2nd quarter valued at approximately $70,000. Institutional investors and hedge funds own 16.33% of the company’s stock.

Platinum Group Metals Price Performance

Shares of NYSE:PLG traded up $0.09 during trading on Friday, reaching $2.81. The company had a trading volume of 2,307,779 shares, compared to its average volume of 1,578,996. The firm has a market capitalization of $327.46 million, a price-to-earnings ratio of -46.75 and a beta of 1.36. The stock’s fifty day moving average price is $2.31 and its 200 day moving average price is $1.99. Platinum Group Metals has a fifty-two week low of $0.99 and a fifty-two week high of $3.36.

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.