Fintel reports that Franklin Resources has filed a 13G/A form with the SEC disclosing ownership of 13.48MM shares of Platinum Group Metals Ltd. (PLG). This represents 13.6% of the company.
In their previous filing dated February 7, 2022 they reported 10.07MM shares and 13.10% of the company, an increase in shares of 33.78% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 127.63% Upside
As of January 31, 2023, the average one-year price target for Platinum Group Metals is $3.71. The forecasts range from a low of $2.30 to a high of $6.49. The average price target represents an increase of 127.63% from its latest reported closing price of $1.63.
The projected annual EPS is $-0.06.
Fund Sentiment
There are 42 funds or institutions reporting positions in Platinum Group Metals. This is a decrease of 5 owner(s) or 10.64%.
Average portfolio weight of all funds dedicated to US:PLG is 0.0181%, an increase of 24.4451%. Total shares owned by institutions increased in the last three months by 0.65% to 14,922K shares.
What are large shareholders doing?
FKRCX - Franklin Gold & Precious Metals Fund holds 2,042,787 shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 36,628 shares, representing an increase of 98.21%. The firm increased its portfolio allocation in PLG by 5,477.12% over the last quarter.
Slate Path Capital holds 900,000 shares representing 0.90% ownership of the company. No change in the last quarter.
Cqs holds 883,365 shares representing 0.88% ownership of the company. No change in the last quarter.
Ninety One UK holds 437,969 shares representing 0.44% ownership of the company. In it's prior filing, the firm reported owning 339,711 shares, representing an increase of 22.43%. The firm increased its portfolio allocation in PLG by 77.94% over the last quarter.
Mackenzie Financial holds 357,778 shares representing 0.36% ownership of the company. In it's prior filing, the firm reported owning 354,400 shares, representing an increase of 0.94%. The firm increased its portfolio allocation in PLG by 35.22% over the last quarter.
Platinum Group Metals Background Information
(This description is provided by the company.)
Platinum Group Metals Ltd. is a mining company focused on the production of platinum and palladium. Our projects are located in the Bushveld Complex in South Africa, surrounded by 70% of the world’s platinum production.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
