Platinum Group Metals (TSE:PTM) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Platinum Group Metals Ltd. shares have crossed above their 200-day moving average, trading at C$2.54 with a high of C$2.56.
• The company has a market capitalization of C$284.87 million and a PE ratio of -63.50, indicating significant operational challenges.
• Platinum Group is developing the Waterberg Project in South Africa, which is expected to be a large-scale, low-cost producer of precious metals.

Platinum Group Metals Ltd. (TSE:PTM - Get Free Report) NYSE: PLG's share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$1.99 and traded as high as C$2.56. Platinum Group Metals shares last traded at C$2.54, with a volume of 82,149 shares trading hands.

Platinum Group Metals Stock Performance

The firm has a market cap of C$311.79 million, a price-to-earnings ratio of -69.50 and a beta of 0.98. The stock has a 50-day moving average of C$2.25 and a 200-day moving average of C$2.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 11.34 and a current ratio of 2.66.

About Platinum Group Metals

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.