Platinum Group Metals Ltd. [AMEX: PLG] jumped around 0.16 points on Monday, while shares priced at $1.98 at the close of the session, up 8.79%. The company report on October 16, 2020 that Platinum Group Metals Ltd. Closes Non-Brokered Private Placement with Largest Shareholder.
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – October 15, 2020) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” or the “Company”) reports closing of the Company’s previously announced non-brokered private placement of common shares at price of US$2.18 each. An aggregate of 1,146,790 common shares were subscribed for and issued resulting in gross proceeds to the Company of US$2,500,002.20 (the “Private Placement”) to existing major beneficial shareholder, Hosken Consolidated Investments Limited (“HCI”) through its subsidiary Deepkloof Limited. Closing of the Private Placement allows HCI to maintain a greater than 31% interest in the Company.
The Company intends to use the net proceeds of the Private Placement for its share of pre-development costs on the Waterberg Project in South Africa, partial debt repayment and general corporate and working capital purposes. Closing of the Private Placement is subject to customary closing conditions, including stock exchange approvals.
Platinum Group Metals Ltd. stock is now 17.16% up from its year-to-date (YTD) trading value. PLG Stock saw the intraday high of $2.03 and lowest of $1.81 per share. The company’s 52-week high price is 2.98, which means current price is +131.28% above from all time high which was touched on 01/21/20.
Compared to the average trading volume of 503.52K shares, PLG reached a trading volume of 1234670 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Platinum Group Metals Ltd. [PLG]?
CIBC have made an estimate for Platinum Group Metals Ltd. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on June 27, 2016. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on June 07, 2013, representing the official price target for Platinum Group Metals Ltd. stock. Previously, the target price had yet another raise from $1.50 to $1.75, while RBC Capital Mkts kept a Outperform rating on PLG stock.
The Average True Range (ATR) for Platinum Group Metals Ltd. is set at 0.12
How has PLG stock performed recently?
Platinum Group Metals Ltd. [PLG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.59. With this latest performance, PLG shares dropped by -1.49% in over the last four-week period, additionally plugging by 23.76% over the last 6 months – not to mention a rise of 39.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLG stock in for the last two-week period is set at 51.54, with the RSI for the last a single of trading hit 57.60, and the three-weeks RSI is set at 50.46 for Platinum Group Metals Ltd. [PLG]. The present Moving Average for the last 50 days of trading for this stock 2.0389, while it was recorded at 1.8760 for the last single week of trading, and 1.8035 for the last 200 days.
Platinum Group Metals Ltd. [PLG]: Deeper insight into the fundamentals
Return on Total Capital for PLG is now -13.03, given the latest momentum, and Return on Invested Capital for the company is -75.69. Additionally, PLG Total Debt to Total Capital is recorded at 190.99, with Total Debt to Total Assets ending up at 79.84.
Platinum Group Metals Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Earnings analysis for Platinum Group Metals Ltd. [PLG]
With the latest financial reports released by the company, Platinum Group Metals Ltd. posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLG.
Insider trade positions for Platinum Group Metals Ltd. [PLG]
There are presently around $47 million, or 27.40% of PLG stock, in the hands of institutional investors. The top three institutional holders of PLG stocks are: LIBERTY MUTUAL GROUP ASSET MANAGEMENT INC. with ownership of 10,133,503, which is approximately 0% of the company’s market cap and around 2.50% of the total institutional ownership; FRANKLIN RESOURCES INC, holding 9,866,577 shares of the stock with an approximate value of $19.54 million in PLG stocks shares; and CQS (US), LLC, currently with $1.75 million in PLG stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Platinum Group Metals Ltd. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 11 institutional holders increased their position in Platinum Group Metals Ltd. [AMEX:PLG] by around 281,892 shares. Additionally, 8 investors decreased positions by around 1,873,390 shares, while 10 investors held positions by with 21,583,149 shares. The mentioned changes placed institutional holdings at 23,738,431 shares, according to the latest SEC report filing. PLG stock had 4 new institutional investments in for a total of 11,819 shares, while 1 institutional investors sold positions of 46,148 shares during the same period.