Platinum Group Metals Ltd. (NYSE:PLG) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in shares of Platinum Group Metals Ltd. (NYSE:PLG) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,416,106 shares of the company’s stock after selling 117,462 shares during the period. Franklin Resources Inc. owned about 0.11% of Platinum Group Metals worth $16,325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Platinum Group Metals during the third quarter worth approximately $30,000. Sanctuary Advisors LLC acquired a new stake in shares of Platinum Group Metals in the third quarter valued at about $36,000. MCIA Inc purchased a new position in shares of Platinum Group Metals in the third quarter worth about $41,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Platinum Group Metals during the third quarter worth about $1,263,000. Hedge funds and other institutional investors own 16.33% of the company’s stock.

Platinum Group Metals Stock Performance

Shares of NYSE PLG opened at $1.17 on Friday. The stock has a market cap of $120.14 million, a PE ratio of -19.50 and a beta of 1.73. Platinum Group Metals Ltd. has a 12-month low of $0.96 and a 12-month high of $2.27. The company has a 50-day moving average of $1.65 and a 200 day moving average of $1.57.

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.