Platinum Group Metals Ltd. (AMEX: PLG) stock jumped 3.61% on Wednesday to $1.72 against a previous-day closing price of $1.66. With 0.3 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.35 million shares. During the session, the Other Precious Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $1.7500 whereas the lowest price it dropped to was $1.6300. The 52-week range on PLG shows that it touched its highest point at $2.84 and its lowest point at $1.20 during that stretch. Beta for the stock currently stands at 1.66.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLG was up-trending over the past week, with a rise of 4.24%, but this was up by 14.67% over a month. Three-month performance surged to 10.97% while six-month performance fell -10.88%. The stock lost -30.65% in the past year, while it has gained 8.86% so far this year.
Float and Shares Shorts:
At present, 98.43 million PLG shares are outstanding with a float of 74.01 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.15 million, which was 2.18% higher than short shares on Sep 14, 2022. In addition to Mr. Frank R. Hallam B.B.A., C.A., CPA as the firm’s Pres, CEO & Director, Mr. Greg Blair C.A., CPA serves as its Chief Financial Officer.
Through their ownership of 16.81% of PLG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of PLG, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 8.10% stake in PLG, the Franklin Gold & Precious Metals F is the largest stakeholder. A total of 7,998,942 shares are owned by the mutual fund manager. The FTIF SICAV – Gold & Precious Fund, which owns about 2.07% of PLG stock, is the second-largest Mutual Fund holder. It holds 2,048,654 shares valued at 3.15 million. Multipartner SICAV – Konwave Tran holds 0.57% of the stake in PLG, owning 563,916 shares worth 0.87 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLG since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLG analysts setting a high price target of $5.96 and a low target of $2.37, the average target price over the next 12 months is $3.89. Based on these targets, PLG could surge 246.51% to reach the target high and rise by 37.79% to reach the target low. Reaching the average price target will result in a growth of 126.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PLG will report FY 2022 earnings on 11/22/2023. Analysts have provided yearly estimates in a range of -$0.07 being high and -$0.13 being low. For PLG, this leads to a yearly average estimate of -$0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Platinum Group Metals Ltd. surprised analysts by $0.02 when it reported -$0.01 EPS against a consensus estimate of -$0.03. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.03. The average estimate for the next quarter is thus -$0.03.