Platinum Group Metals (TSE:PTM) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Platinum Group Metals Ltd. shares have recently crossed above their two hundred day moving average, reaching C$2.30, indicating a potential bullish trend.
• The company has a market capitalization of C$257.95 million and a debt-to-equity ratio of 0.99, suggesting a relatively stable financial position.
• Platinum Group Metals is actively engaged in the exploration and development of platinum and palladium properties, holding a majority interest in the Waterberg project in South Africa.

Platinum Group Metals Ltd. (TSE:PTM - Get Free Report) NYSE: PLG shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$1.96 and traded as high as C$2.30. Platinum Group Metals shares last traded at C$2.30, with a volume of 29,201 shares changing hands.

Platinum Group Metals Stock Down 7.9%

The firm's fifty day moving average price is C$2.23 and its two-hundred day moving average price is C$1.98. The stock has a market cap of C$273.65 million, a price-to-earnings ratio of -61.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.66 and a quick ratio of 11.34.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd is the operator of the Waterberg Project, a bulk underground PGM deposit located in South Africa. Waterberg was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Hanwa Co Ltd. Waterberg has the potential to be a large-scale, low-cost producer of palladium, platinum, rhodium, and gold.