Platinum Group Metals (PLG) Trading Down 7.4%

Shares of Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) dropped 7.4% during mid-day trading on Monday . The company traded as low as $0.16 and last traded at $0.17. Approximately 818,402 shares were traded during trading, a decline of 36% from the average daily volume of 1,272,930 shares. The stock had previously closed at $0.18.

Platinum Group Metals (NYSEAMERICAN:PLG) (TSE:PTM) last announced its quarterly earnings results on Monday, July 16th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter.

A hedge fund recently bought a new stake in Platinum Group Metals stock. Investec Asset Management LTD purchased a new position in shares of Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,339,714 shares of the basic materials company’s stock, valued at approximately $132,000. Investec Asset Management LTD owned approximately 0.46% of Platinum Group Metals as of its most recent filing with the Securities and Exchange Commission (SEC).

About Platinum Group Metals (NYSEAMERICAN:PLG)

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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