The Manufacturers Life Insurance Company Makes New Investment in Platinum Group Metals Ltd. $PLG

The Manufacturers Life Insurance Company acquired a new position in shares of Platinum Group Metals Ltd. (NYSE:PLG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 660,129 shares of the company’s stock, valued at approximately $898,000. The Manufacturers Life Insurance Company owned approximately 0.52% of Platinum Group Metals at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its position in Platinum Group Metals by 310.9% during the 3rd quarter. Millennium Management LLC now owns 1,017,139 shares of the company’s stock worth $2,695,000 after acquiring an additional 769,585 shares during the last quarter. Walleye Capital LLC bought a new position in Platinum Group Metals in the 4th quarter valued at $1,524,000. Renaissance Technologies LLC bought a new position in Platinum Group Metals in the 1st quarter valued at $1,139,000. Two Sigma Investments LP boosted its stake in Platinum Group Metals by 130.8% in the third quarter. Two Sigma Investments LP now owns 736,330 shares of the company’s stock worth $1,951,000 after purchasing an additional 417,306 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Platinum Group Metals in the third quarter worth $1,095,000. Institutional investors own 16.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Platinum Group Metals Trading Down 1.9%

Shares of NYSE PLG opened at $1.51 on Friday. Platinum Group Metals Ltd. has a 1-year low of $1.18 and a 1-year high of $4.04. The company has a 50-day moving average of $1.41 and a two-hundred day moving average of $1.69. The company has a market cap of $193.11 million, a PE ratio of -25.17 and a beta of 1.25.

About Platinum Group Metals

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.