Bank of America Corp DE decreased its holdings in Platinum Group Metals Ltd. (NYSE:PLG - Free Report) by 74.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,561 shares of the company's stock after selling 692,147 shares during the quarter. Bank of America Corp DE owned 0.18% of Platinum Group Metals worth $415,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of PLG. Renaissance Technologies LLC bought a new stake in Platinum Group Metals during the first quarter valued at about $1,139,000. Marshall Wace LLP bought a new stake in Platinum Group Metals during the 2nd quarter valued at approximately $328,000. HRT Financial LP bought a new stake in Platinum Group Metals during the 4th quarter valued at approximately $277,000. Dynamic Technology Lab Private Ltd purchased a new position in Platinum Group Metals in the 4th quarter worth approximately $177,000. Finally, Jane Street Group LLC lifted its holdings in Platinum Group Metals by 182.0% in the 2nd quarter. Jane Street Group LLC now owns 105,718 shares of the company's stock worth $162,000 after purchasing an additional 68,223 shares in the last quarter. Institutional investors own 16.33% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised shares of Platinum Group Metals to a "hold" rating in a report on Monday, July 13th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".
View Our Latest Analysis on PLG
Platinum Group Metals Trading Up 0.6%
Shares of PLG stock opened at $1.59 on Thursday. Platinum Group Metals Ltd. has a 12-month low of $1.18 and a 12-month high of $4.04. The stock's 50-day moving average price is $1.42 and its 200-day moving average price is $1.67. The stock has a market capitalization of $203.34 million, a price-to-earnings ratio of -26.50 and a beta of 1.25.
Platinum Group Metals Company Profile
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Free Report)
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.
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