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

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

Platinum Group Metals Stock Up 0.8%

NYSE PLG opened at $1.30 on Monday. The company has a fifty day moving average of $1.53 and a two-hundred day moving average of $2.02. The firm has a market capitalization of $166.25 million, a price-to-earnings 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.

Institutional Trading of Platinum Group Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in shares of Platinum Group Metals during the fourth quarter valued at 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. Kestra Advisory Services LLC purchased a new position in Platinum Group Metals during the 1st quarter valued at $27,000. Commonwealth Equity Services LLC purchased a new position in Platinum Group Metals during the 4th quarter valued at $41,000. Finally, Cetera Investment Advisers grew its position in Platinum Group Metals by 75.7% in the 2nd quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock valued at $35,000 after acquiring an additional 9,834 shares during the last quarter. 16.33% of the stock is owned by hedge funds and other institutional investors.

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.