Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the target of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 5,988,069 shares, a decline of 3.8% from the December 15th total of 6,226,380 shares. Based on an average daily trading volume, of 752,369 shares, the short-interest ratio is presently 8.0 days. Approximately 4.0% of the shares of the company are sold short.

Shares of Platinum Group Metals (NYSEAMERICAN PLG) opened at $0.41 on Thursday. Platinum Group Metals has a 1 year low of $0.28 and a 1 year high of $2.45. The stock has a market cap of $58.35, a price-to-earnings ratio of -0.11 and a beta of 2.83.

Several hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. grew its position in shares of Platinum Group Metals by 21.2% during the 2nd quarter. Donald Smith & CO. Inc. now owns 14,400,146 shares of the basic materials company’s stock valued at $12,033,000 after acquiring an additional 2,517,845 shares during the period. CQS Cayman LP grew its position in shares of Platinum Group Metals by 121.5% during the 2nd quarter. CQS Cayman LP now owns 2,048,639 shares of the basic materials company’s stock valued at $1,712,000 after acquiring an additional 1,123,753 shares during the period. Virtu KCG Holdings LLC grew its position in shares of Platinum Group Metals by 2,826.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 348,742 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 336,825 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Platinum Group Metals by 13.4% during the 2nd quarter. Franklin Resources Inc. now owns 27,878,488 shares of the basic materials company’s stock valued at $23,339,000 after acquiring an additional 3,300,000 shares during the period.

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Platinum Group Metals Company Profile

Platinum Group Metals Ltd. is an exploration- and development-stage Company. The Company is focused on exploration and development of platinum. The Company conducts work on mineral properties it has staked or acquired by way of option agreements in the Republic of South Africa and in Canada. Its business is focused on production ramp up at the Maseve Mine, and the exploration and initial engineering on the Waterberg platinum deposit, which includes the Waterberg Joint Venture Project (the Waterberg JV Project) and the adjoining Waterberg Extension Project.

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