Platinum Group Metals Limited (PLG) Short Interest Update
Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,510,515 shares, a growth of 3.2% from the November 15th total of 6,310,861 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 743,602 shares, the short-interest ratio is currently 8.8 days.
Shares of Platinum Group Metals (NYSEAMERICAN PLG) traded up $0.01 during midday trading on Monday, reaching $0.30. 820,015 shares of the company were exchanged, compared to its average volume of 715,616. Platinum Group Metals has a fifty-two week low of $0.28 and a fifty-two week high of $2.45.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Platinum Group Metals by 13.4% during the second quarter. Franklin Resources Inc. now owns 27,878,488 shares of the basic materials company’s stock worth $23,339,000 after buying an additional 3,300,000 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Platinum Group Metals by 21.2% during the second quarter. Donald Smith & CO. Inc. now owns 14,400,146 shares of the basic materials company’s stock worth $12,033,000 after buying an additional 2,517,845 shares during the last quarter. CQS Cayman LP raised its stake in Platinum Group Metals by 121.5% during the second quarter. CQS Cayman LP now owns 2,048,639 shares of the basic materials company’s stock worth $1,712,000 after buying an additional 1,123,753 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its stake in Platinum Group Metals by 2,826.4% during the second quarter. Virtu KCG Holdings LLC now owns 348,742 shares of the basic materials company’s stock worth $291,000 after buying an additional 336,825 shares during the last quarter.
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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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