Platinum Group Metals (NYSE:PLG) Posts Quarterly Earnings Results

Platinum Group Metals (NYSE:PLG) announced its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, reports.

Platinum Group Metals Price Performance

NYSE PLG opened at $1.35 on Thursday. Platinum Group Metals has a 52-week low of $0.94 and a 52-week high of $1.78. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLG. Sprott Inc. purchased a new position in Platinum Group Metals in the first quarter valued at about $25,000. Jane Street Group LLC purchased a new position in shares of Platinum Group Metals during the 4th quarter worth approximately $31,000. Shepherd Financial Partners LLC purchased a new position in shares of Platinum Group Metals during the 1st quarter worth approximately $42,000. Goldman Sachs Group Inc. purchased a new position in shares of Platinum Group Metals during the 1st quarter worth approximately $51,000. Finally, PEAK6 Investments LLC purchased a new position in shares of Platinum Group Metals during the 1st quarter worth approximately $55,000. 16.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Platinum Group Metals to a “sell” rating in a report on Wednesday, February 7th.

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.