Platinum Group Metals (TSE:PTM) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Platinum Group Metals Ltd. (TSE:PTM) (NYSE:PLG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.51 and traded as high as C$2.94. Platinum Group Metals shares last traded at C$2.94, with a volume of 100,161 shares.

Platinum Group Metals Trading Up 2.3%

The firm has a 50-day moving average of C$3.24 and a two-hundred day moving average of C$2.52. The firm has a market capitalization of C$348.80 million, a P/E ratio of -77.75 and a beta of 1.94. The company has a current ratio of 2.66, a quick ratio of 11.34 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling

In other Platinum Group Metals news, Director Stuart Harshaw sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of C$4.51, for a total value of C$40,590.00. Following the transaction, the director directly owned 2,734 shares of the company’s stock, valued at approximately C$12,330.34. The trade was a 76.70% decrease in their ownership of the stock. Also, Director Frank Hallam sold 20,000 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of C$4.16, for a total transaction of C$83,200.00. Following the sale, the director directly owned 183,200 shares of the company’s stock, valued at approximately C$762,112. The trade was a 9.84% decrease in their ownership of the stock. Insiders have sold a total of 43,078 shares of company stock worth $186,948 in the last ninety days. Company insiders own 26.47% of the company’s stock.

About Platinum Group Metals

Platinum Group Metals Ltd is the operator of the Waterberg Project, a bulk underground PGM deposit located in South Africa. Waterberg was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Hanwa Co Ltd. Waterberg has the potential to be a large-scale, low-cost producer of palladium, platinum, rhodium, and gold.