Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,693,464 shares, a growth of 19.3% from the October 15th total of 4,770,785 shares. Based on an average daily trading volume, of 1,222,434 shares, the short-interest ratio is presently 4.7 days.
Shares of NYSEAMERICAN:PLG traded down $0.01 on Friday, reaching $0.18. The company’s stock had a trading volume of 963,200 shares, compared to its average volume of 1,259,901. Platinum Group Metals has a 52-week low of $0.08 and a 52-week high of $0.58.
Large investors have recently made changes to their positions in the company. Investec Asset Management LTD purchased a new stake in shares of Platinum Group Metals in the second quarter valued at about $132,000. CQS Cayman LP raised its holdings in shares of Platinum Group Metals by 338.7% in the third quarter. CQS Cayman LP now owns 4,317,158 shares of the basic materials company’s stock valued at $767,000 after buying an additional 3,333,000 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its holdings in shares of Platinum Group Metals by 123.8% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 36,160,609 shares of the basic materials company’s stock valued at $3,813,000 after buying an additional 20,000,000 shares during the last quarter.
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About Platinum Group Metals
Platinum Group Metals Ltd. operates as a platinum-focused exploration and development company in the Republic of South Africa and Canada. It primarily explores for platinum, palladium, rhodium, gold, ruthenium, iridium, nickel, copper, chromium, and vanadium deposits. The company's key development project and exploration targets are located in the Bushveld Complex in South Africa.
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