Platinum Group Metals (NYSE:PLG) Shares Down 5.8% - What's Next?

Key Points

• Platinum Group Metals Ltd. (NYSE:PLG) saw its stock price decline by 5.8% to $1.47 during Wednesday's trading, with a trading volume increase of 20% compared to its average session.
• Analysts downgraded the stock to a "sell" rating, indicating potential concerns about its future performance.
• Institutional investors raised their stakes in Platinum Group Metals, contributing to 16.33% of the company's stock ownership, suggesting confidence from larger market players.

Platinum Group Metals Ltd. (NYSE:PLG - Get Free Report)'s stock price traded down 5.8% on Wednesday . The company traded as low as $1.45 and last traded at $1.47. 1,047,412 shares traded hands during trading, an increase of 20% from the average session volume of 871,078 shares. The stock had previously closed at $1.56.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Platinum Group Metals to a "sell" rating in a research report on Monday, April 14th.

Platinum Group Metals Stock Down 0.7%

The stock has a market cap of $165.93 million, a P/E ratio of -24.83 and a beta of 1.71. The business's 50-day simple moving average is $1.59 and its two-hundred day simple moving average is $1.37.

Institutional Investors Weigh In On Platinum Group Metals

A number of institutional investors and hedge funds have recently modified their holdings of PLG. Trek Financial LLC purchased a new stake in shares of Platinum Group Metals in the fourth quarter worth about $1,230,000. Mountain Capital Investment Advisors Inc. raised its stake in Platinum Group Metals by 90.6% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 51,007 shares of the company's stock valued at $68,000 after purchasing an additional 24,250 shares in the last quarter. XTX Topco Ltd raised its stake in Platinum Group Metals by 57.5% in the fourth quarter. XTX Topco Ltd now owns 33,588 shares of the company's stock valued at $43,000 after purchasing an additional 12,265 shares in the last quarter. Marshall Wace LLP raised its stake in Platinum Group Metals by 318.4% in the fourth quarter. Marshall Wace LLP now owns 438,352 shares of the company's stock valued at $561,000 after purchasing an additional 333,595 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Platinum Group Metals in the fourth quarter valued at approximately $98,000. 16.33% of the stock is owned by hedge funds and other institutional investors.

About Platinum Group Metals

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.