Platinum Group Metals Limited (NYSEAMERICAN:PLG) Short Interest Update

Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) saw a large growth in short interest in February. As of February 14th, there was short interest totalling 462,400 shares, a growth of 39.7% from the January 30th total of 331,100 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 231,100 shares, the days-to-cover ratio is currently 2.0 days.

PLG traded down $0.07 on Wednesday, reaching $2.24. 302,200 shares of the company traded hands, compared to its average volume of 440,371. Platinum Group Metals has a one year low of $1.04 and a one year high of $2.98.

Platinum Group Metals (NYSEAMERICAN:PLG) (TSE:PTM) last posted its earnings results on Tuesday, January 14th. The basic materials company reported $0.01 EPS for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Platinum Group Metals by 111.3% during the 4th quarter. Renaissance Technologies LLC now owns 49,859 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 26,259 shares during the period. Sprott Inc. increased its position in Platinum Group Metals by 730.3% during the 4th quarter. Sprott Inc. now owns 2,046,472 shares of the basic materials company’s stock valued at $3,488,000 after purchasing an additional 1,800,000 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its position in Platinum Group Metals by 277.0% during the 3rd quarter. Liberty Mutual Group Asset Management Inc. now owns 10,133,503 shares of the basic materials company’s stock valued at $14,896,000 after purchasing an additional 7,445,758 shares during the period.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd. engages in the acquisition, exploration, and development of platinum and palladium properties. It explores for platinum, palladium, rhodium, gold, ruthenium, iridium, copper, and nickel deposits. The company holds 50.02% interest in the Waterberg project located on the North Limb of the Western Bushveld complex, South Africa.

See Also: Debt-To-Equity Ratio

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