Platinum Group Metals Target of Unusually Large Options Trading (NYSE:PLG)

Key Points

• Platinum Group Metals Ltd. experienced a significant spike in options trading, with 5,759 call options purchased on Monday, marking a 430% increase over the usual volume.
• The company's stock price rose 9.5% to $3.06, alongside a trading volume of over 2 million shares, indicating heightened investor interest.
• Several institutional investors, including Jane Street Group LLC and Marshall Wace LLP, have recently increased their stakes in Platinum Group Metals, reflecting growing confidence in the company's potential.

Platinum Group Metals Ltd. (NYSE:PLG - ) was the recipient of unusually large options trading on Monday. Stock traders bought 5,759 call options on the company. This is an increase of 430% compared to the typical daily volume of 1,087 call options.

Platinum Group Metals Stock Up 9.5%

Shares of NYSE PLG traded up $0.27 during trading on Monday, reaching $3.06. The company had a trading volume of 2,192,751 shares, compared to its average volume of 1,078,563. Platinum Group Metals has a 12-month low of $0.99 and a 12-month high of $3.03. The stock has a market cap of $343.90 million, a PE ratio of -50.92 and a beta of 1.66. The business's 50-day moving average is $1.77 and its 200 day moving average is $1.53.

Institutional Investors Weigh In On Platinum Group Metals

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its stake in shares of Platinum Group Metals by 182.0% in the second quarter. Jane Street Group LLC now owns 105,718 shares of the company's stock worth $162,000 after acquiring an additional 68,223 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Platinum Group Metals during the second quarter valued at $328,000. Trek Financial LLC boosted its position in shares of Platinum Group Metals by 57.3% during the second quarter. Trek Financial LLC now owns 2,003,166 shares of the company's stock valued at $3,065,000 after buying an additional 730,053 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Platinum Group Metals by 125.3% during the second quarter. J.W. Cole Advisors Inc. now owns 301,800 shares of the company's stock valued at $462,000 after buying an additional 167,850 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Platinum Group Metals during the second quarter valued at $70,000. 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.

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