StockNews.com Upgrades Platinum Group Metals (NYSE:PLG) to “Sell”

Platinum Group Metals (NYSE:PLG) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Monday.

Platinum Group Metals Trading Down 3.0 %

Shares of NYSE:PLG opened at $1.30 on Monday. The company has a 50 day moving average of $1.25 and a 200 day moving average of $1.42. Platinum Group Metals has a 12 month low of $0.99 and a 12 month high of $2.27. The stock has a market cap of $135.41 million, a P/E ratio of -21.67 and a beta of 1.66.

Hedge Funds Weigh In On Platinum Group Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trek Financial LLC bought a new stake in shares of Platinum Group Metals during the 4th quarter valued at about $1,230,000. Marshall Wace LLP grew its stake in Platinum Group Metals by 318.4% in the 4th quarter. Marshall Wace LLP now owns 438,352 shares of the company’s stock worth $561,000 after buying an additional 333,595 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new stake in shares of Platinum Group Metals during the 4th quarter valued at $103,000. Jane Street Group LLC bought a new stake in shares of Platinum Group Metals during the 4th quarter worth $98,000. Finally, Mountain Capital Investment Advisors Inc. grew its position 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 worth $68,000 after acquiring an additional 24,250 shares in the last quarter. 16.33% of the stock is currently 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.