Platinum Group Metals Ltd. [AMEX: PLG] gained 8.45% on the last trading session, reaching $4.62 price per share at the time. The company report on April 15, 2021 that Platinum Group Metals Ltd. Reports Further Appeal.
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – April 14, 2021) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” or the “Company”) reports that a further notice to appeal the decision granting Waterberg JV Resources (Pty) Ltd. a mining right was received by the Company on April 14, 2021. The notice is reported to be filed by a local community in the area of the proposed mine infrastructure. The Department of Mineral Resources and Energy (“DMRE”) granted the mining right on January 28, 2021. The Company believes that all requirements specified under the Mineral and Petroleum Resources Development Act (“MPRDA”) have been complied with and that Minister Gwede Mantashe’s office correctly issued the notice of the granting of the mining right. Waterberg JV Resources (Pty) Ltd is accordingly opposing the appeal. According to the MPRDA, an appeal can be considered by the Minister for determination within a 130-business day timeframe. The mining right currently remains active and was notarially executed by the DMRE on April 13, 2021.
Platinum Group has completed well-documented, extensive and meaningful consultations with recognized representatives in local communities, the DMRE and government. The consultation includes the group claiming an appeal. The Waterberg Project is projected to be a large palladium, platinum, rhodium and gold mine and the Company anticipates that its development will result in significant positive spin-offs in terms of investments, exports, jobs and skills development.
Platinum Group Metals Ltd. represents 71.52 million in outstanding shares, while the company has a total market value of $315.50 million with the latest information. PLG stock price has been found in the range of $4.21 to $4.62.
If compared to the average trading volume of 1.22M shares, PLG reached a trading volume of 1138688 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Platinum Group Metals Ltd. [PLG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLG shares is $6.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.25 The Price to Book ratio for the last quarter was 154.00, with the Price to Cash per share for the same quarter was set at 0.14.
Trading performance analysis for PLG stock
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 12.14. With this latest performance, PLG shares gained by 10.53% in over the last four-week period, additionally plugging by 117.92% over the last 6 months – not to mention a rise of 178.31% 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 63.49, with the RSI for the last a single of trading hit 70.94, and the three-weeks RSI is set at 58.70 for Platinum Group Metals Ltd. [PLG]. The present Moving Average for the last 50 days of trading for this stock 4.22, while it was recorded at 4.16 for the last single week of trading, and 3.12 for the last 200 days.
Platinum Group Metals Ltd. [PLG]: A deeper dive into fundamental analysis
Return on Total Capital for PLG is now -16.33, given the latest momentum, and Return on Invested Capital for the company is -41.96. Additionally, PLG Total Debt to Total Capital is recorded at 223.01, with Total Debt to Total Assets ending up at 98.21.
Platinum Group Metals Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.70 and a Current Ratio set at 8.70.
Platinum Group Metals Ltd. [PLG]: An earnings per share (EPS) analysis
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.
An analysis of insider ownership at Platinum Group Metals Ltd. [PLG]
There are presently around $109 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 9,466,577 shares of the stock with an approximate value of $43.74 million in PLG stocks shares; and CQS (US), LLC, currently with $4.08 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 April and at the time of the April reporting period, where 22 institutional holders increased their position in Platinum Group Metals Ltd. [AMEX:PLG] by around 1,571,916 shares. Additionally, 10 investors decreased positions by around 1,403,476 shares, while 7 investors held positions by with 20,513,365 shares. The mentioned changes placed institutional holdings at 23,488,757 shares, according to the latest SEC report filing. PLG stock had 13 new institutional investments in for a total of 1,434,429 shares, while 4 institutional investors sold positions of 816,766 shares during the same period.