Shares of Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) traded down 6.5% during trading on Wednesday . The company traded as low as $0.28 and last traded at $0.29. 1,544,000 shares traded hands during mid-day trading, an increase of 115% from the average session volume of 717,524 shares. The stock had previously closed at $0.31.

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in 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 purchasing an additional 3,300,000 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in 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 purchasing an additional 2,517,845 shares during the last quarter. CQS Cayman LP boosted its stake in 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 purchasing an additional 1,123,753 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its stake in 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 purchasing an additional 336,825 shares during the last quarter.

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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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