Franklin Resources Inc. Trims Stock Position in Platinum Group Metals Ltd. (NYSE:PLG)

Franklin Resources Inc. cut its holdings in shares of Platinum Group Metals Ltd. (NYSE:PLG) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,416,106 shares of the company’s stock after selling 117,462 shares during the period. Franklin Resources Inc. owned about 11.12% of Platinum Group Metals worth $16,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new stake in shares of Platinum Group Metals during the 3rd quarter worth approximately $1,263,000. MCIA Inc purchased a new stake in Platinum Group Metals during the third quarter worth $41,000. Sanctuary Advisors LLC acquired a new stake in Platinum Group Metals during the third quarter valued at $36,000. Finally, XTX Topco Ltd purchased a new position in Platinum Group Metals in the third quarter valued at $30,000. 16.33% of the stock is owned by hedge funds and other institutional investors.

Platinum Group Metals Stock Performance

Shares of Platinum Group Metals stock opened at $1.17 on Friday. The firm has a 50-day simple moving average of $1.65 and a two-hundred day simple moving average of $1.57. Platinum Group Metals Ltd. has a fifty-two week low of $0.96 and a fifty-two week high of $2.27. The company has a market cap of $120.14 million, a P/E ratio of -19.50 and a beta of 1.73.

About Platinum Group Metals

Platinum Group Metals Ltd. engages in the exploration and development of platinum and palladium properties. It explores for palladium, platinum, gold, copper, nickel, and rhodium deposits. The company holds 50.02% interest in the Waterberg project located on the Northern Limb of the Bushveld Igneous Complex, South Africa.