Renaissance Technologies LLC Acquires New Holdings in Platinum Group Metals Ltd. $PLG

Renaissance Technologies LLC bought a new stake in Platinum Group Metals Ltd. (NYSE:PLG) during the first quarter, Holdings Channel.com reports. The institutional investor bought 643,562 shares of the company’s stock, valued at approximately $1,139,000.

Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Platinum Group Metals by 29.2% during the fourth quarter. Millennium Management LLC now owns 1,313,835 shares of the company’s stock valued at $3,101,000 after acquiring an additional 296,696 shares during the last quarter. UBS Group AG lifted its holdings in shares of Platinum Group Metals by 23.3% in the 4th quarter. UBS Group AG now owns 910,311 shares of the company’s stock worth $2,148,000 after acquiring an additional 171,734 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Platinum Group Metals by 130.8% in the 3rd quarter. Two Sigma Investments LP now owns 736,330 shares of the company’s stock worth $1,951,000 after acquiring an additional 417,306 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Platinum Group Metals during the 4th quarter worth approximately $1,524,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of Platinum Group Metals by 12.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 482,200 shares of the company’s stock worth $1,127,000 after purchasing an additional 52,520 shares during the period. Hedge funds and other institutional investors own 16.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Platinum Group Metals to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Platinum Group Metals Stock Performance

PLG stock opened at $1.48 on Friday. The company’s 50 day moving average price is $1.38 and its 200 day moving average price is $1.82. The firm has a market capitalization of $189.27 million, a price-to-earnings ratio of -24.67 and a beta of 1.21. Platinum Group Metals Ltd. has a fifty-two week low of $1.18 and a fifty-two week high of $4.04.

Platinum Group Metals Company Profile

Platinum Group Metals Ltd is a mineral exploration and development company focused on the discovery and advancement of platinum group metal (PGM) deposits. The company’s flagship asset is the Waterberg Joint Venture Project located in South Africa’s Bushveld Complex, one of the world’s premier PGM-producing regions. In addition to its Waterberg interests, Platinum Group Metals holds the Marathon PGM project near Thunder Bay, Ontario, which is being advanced towards feasibility on the strength of its high-grade PGM and gold mineralization.

Since its inception, the company has pursued a strategy of combining regional geological expertise with strategic partnerships to de-risk project development and enhance shareholder value.