Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) saw a large 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. Based on an average daily volume of 743,602 shares, the days-to-cover ratio is currently 8.8 days. Currently, 4.4% of the shares of the stock are short sold.
Large investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC increased its stake in shares of Platinum Group Metals by 2,826.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 348,742 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 336,825 shares in the last quarter. CQS Cayman LP increased 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 in the last quarter. Donald Smith & CO. Inc. increased 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 in the last quarter. Finally, Franklin Resources Inc. increased 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 in the last quarter.
Platinum Group Metals (PLG) opened at $0.35 on Wednesday. The stock has a market cap of $45.34, a P/E ratio of -0.09 and a beta of 2.84. Platinum Group Metals has a 1 year low of $0.28 and a 1 year high of $2.45.
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About Platinum Group Metals
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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