Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 331,100 shares, a drop of 6.6% from the January 15th total of 354,600 shares. Based on an average daily trading volume, of 194,400 shares, the short-interest ratio is currently 1.7 days. Currently, 0.8% of the company’s stock are short sold.
Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Platinum Group Metals by 111.3% during the fourth quarter. Renaissance Technologies LLC now owns 49,859 shares of the basic materials company’s stock valued at $84,000 after buying an additional 26,259 shares during the period. Sprott Inc. increased its stake in shares of Platinum Group Metals by 730.3% during the fourth quarter. Sprott Inc. now owns 2,046,472 shares of the basic materials company’s stock valued at $3,488,000 after buying an additional 1,800,000 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of Platinum Group Metals by 277.0% during the third quarter. Liberty Mutual Group Asset Management Inc. now owns 10,133,503 shares of the basic materials company’s stock valued at $14,896,000 after buying an additional 7,445,758 shares during the period.
Shares of Platinum Group Metals stock opened at $2.04 on Friday. Platinum Group Metals has a 12 month low of $1.04 and a 12 month high of $2.98.
Platinum Group Metals Company Profile
Platinum Group Metals Ltd. engages in the acquisition, exploration, and development of platinum and palladium properties. It explores for platinum, palladium, rhodium, gold, ruthenium, iridium, copper, and nickel deposits. The company holds 50.02% interest in the Waterberg project located on the North Limb of the Western Bushveld complex, South Africa.
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