This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Soros Buy Spurs Platinum Group Metals

(Updated with share price information)

NEW YORK ( TheStreet) -- Billionaire investor George Soros is giving Platinum Group Metals (PLG) the Soros bump.

In a bullish sign on platinum, Soros recently raised his stake in Platinum Group to 9.7% according to a filing with the Securities and Exchange Commission. Shares of the mining company have responded today by bidding up 4% to $ 2.08 in Tuesday morning trading.

Soros Fund Management now owns 15.5 million Platinum Group shares, up from just 1.5 million shares in his last disclosed quarterly portfolio, and significant enough for it to become the company's largest shareholder.

Platinum Group chiefly looks for platinum resources and has mineral rights in Canada and South Africa. It recently raised C$125 million to increase its stake in a platinum mine expansion project to 75%.

The company also recently said it's open to various "strategic" options, including a potential sale or merger, partnerships and the creation of a platinum stream, which might have also prompted an investment from the hedge fund titan.

Platinum and palladium have been rallying along with other precious metals. While gold has received the most interest because of its status as a safe haven, platinum is in demand as sales of automobiles in emerging markets continue to rise.

Soros still has big exposure to gold but has also been quoted as saying that the yellow metal is in an ultimate bubble.

Separately, Soros Fund Management also disclosed that it has raised its stake in Female Health (FHCO - Get Report) to 5.1% from 4.8% previously.

--Written by Shanthi Venkataraman in New York

>To contact the writer of this article, click here: Shanthi Venkataraman.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FHCO $1.29 2.25%
PLG $3.40 -5.56%
AAPL $94.19 -1.04%
FB $118.06 0.54%
GOOG $695.70 0.48%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs