Ready to Jump After Recent Trade: Platinum Group Metals Ltd. (PLG)

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.

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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.

Institutional Ownership:

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.

Analysts Ratings:

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.

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