Platinum Group Metals Ltd. [AMEX: PLG] surged by $0.04 during the normal trading session on while it closed the day at $1.17. The company report on March 1, 2024 at 8:00 AM that Platinum Group Metals Announces Positive Results of Annual General Meeting of Shareholders.
Vancouver, British Columbia and Johannesburg, South Africa–(Newsfile Corp. – March 1, 2024) – Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (“Platinum Group” or the “Company”) is pleased to announce positive results from its Annual General Meeting held on February 29, 2024 in Vancouver, British Columbia.
The meeting had a turnout of shareholders representing 59.54% of its issued shares eligible to vote at the meeting. Shareholders strongly supported the appointment of the Board and the resolutions proposed.
Platinum Group Metals Ltd. stock has also loss -2.50% of its value over the past 7 days. However, PLG stock has inclined by 0.86% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.54% and gained 2.63% year-on date.
The market cap for PLG stock reached $119.90 million, with 100.26 million shares outstanding and 75.21 million shares in the current float. Compared to the average trading volume of 166.06K shares, PLG reached a trading volume of 159293 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $1.42 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 2.50. 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 0.06 The Price to Book ratio for the last quarter was 4.46, with the Price to Cash per share for the same quarter was set at 0.07.
PLG stock trade performance evaluation
Platinum Group Metals Ltd. [PLG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.50. With this latest performance, PLG shares gained by 19.14% in over the last four-week period, additionally plugging by 3.54% over the last 6 months – not to mention a drop of -17.02% 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 56.48, with the RSI for the last a single of trading hit 57.16, and the three-weeks RSI is set at 55.65 for Platinum Group Metals Ltd. [PLG]. The present Moving Average for the last 50 days of trading for this stock 1.0591, while it was recorded at 1.1450 for the last single week of trading, and 1.1636 for the last 200 days.
Platinum Group Metals Ltd. [PLG]: An insightful look at the core fundamentals
Platinum Group Metals Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.37 and a Current Ratio set at 11.37.
Earnings per share (EPS) analysis for Platinum Group Metals Ltd. [PLG] stock
With the latest financial reports released by the company, Platinum Group Metals Ltd. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail 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.
Platinum Group Metals Ltd. [PLG]: Institutional Ownership
The top three institutional holders of PLG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PLG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PLG stock with ownership which is approximately 5.8325%.
