Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 18 Feb, 26 | PLG | Buy | USD 2.23 | USD 2.35 | USD 2.5 | 5 days | Closed |
12.55%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Platinum Group Metals Ltd. engages in the exploration and development of platinum and palladium properties. It explores for palladium, platinum, gold, copper, nickel, and rhodium deposits. The company holds 50.02% interest in the Waterberg project located on the Northern Limb of the Bushveld Igneous Complex, South Africa. It also develops next-generation battery technology using platinum and palladium. Platinum Group Metals Ltd. was founded in 2000 and is headquartered in Vancouver, Canada.
Increased Capitalized Project Investment: Q1 FY26 Waterberg capitalized balance reached USD 51.23 million, up from USD 46.85 million at November 30, 2024
Higher Financing Inflows: Q1 FY26 financing cash inflow amounted to USD 8.94 million, compared to Q1 FY25 net financing outflow of USD 0.22 million
Higher Operating Cash Outflow: Q1 FY26 operating cash outflow totaled USD 1.91 million, versus Q1 FY25 outflow of USD 0.79 million
Continued Net Losses: Q1 FY26 net loss was USD 1.84 million, marginally higher than Q1 FY25 net loss of USD 1.84 million
The Company’s primary investment risk lies in its dependence on continued equity financing to advance the capital-intensive Waterberg Project to construction and production, while remaining exposed to commodity price volatility, permitting risks, and funding uncertainty in a non-revenue-generating development stage
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 2.23 | 1.98 | 2.35 | 2.5 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Liquidity Position and Capital Resources: During the three months ended November 30, 2025 (Q1 FY26), Platinum Group Metals Ltd. reported a significant strengthening in its liquidity position. Cash and cash equivalents increased to USD 5.37 million as at November 30, 2025, compared to USD 0.42 million as at August 31, 2025, while short-term investments rose to USD 13.12 million. The improvement reflects proceeds raised under the at-the-market (ATM) equity program, supporting working capital and ongoing project advancement.
Income Statement Overview: For Q1 FY26, the Company recorded a net loss of USD 1.84 million, broadly in line with the USD 1.84 million net loss reported in Q1 FY25. Basic and diluted loss per share remained stable at USD 0.02 for both comparative periods. The consistent loss profile reflects the Company’s development-stage status, with no operating revenue generation at this stage.
Expense Structure and Cost Trends: General and administrative expenses declined to USD 1.08 million in Q1 FY26 from USD 1.24 million in Q1 FY25, indicating improved cost discipline. However, stock-based compensation increased to USD 1.13 million in Q1 FY26 from USD 0.72 million in Q1 FY25, reflecting equity-linked remuneration and share-based incentives granted during the period.
Balance Sheet Strength and Equity Growth: Total assets expanded to USD 71.76 million as at November 30, 2025, compared with USD 62.10 million as at August 31, 2025. Shareholders’ equity increased to USD 68.52 million from USD 59.45 million over the same period, primarily due to equity issuances under the ATM program. This capital strengthening supports the Company’s ability to fund near-term development initiatives.
Project Capitalization and Development Progress: Total capitalized costs on the Waterberg Project increased to USD 51.23 million as at November 30, 2025, from USD 49.22 million as at August 31, 2025. Aggregate expenditures funded by all parties since inception total approximately USD 91.1 million. The continued capitalization of development expenditures reflects ongoing advancement toward a construction decision.
Cash Flow Dynamics: Operating cash outflows amounted to USD 1.91 million in Q1 FY26 compared to USD 0.79 million in Q1 FY25, largely due to working capital adjustments and equity-based compensation effects. Financing activities generated USD 8.94 million in Q1 FY26 versus a net outflow of USD 0.22 million in Q1 FY25, driven by equity issuance proceeds. Consequently, period-end cash improved materially year-on-year.
Operational and Strategic Outlook: The Company continues to focus on advancing the Waterberg Project toward a development and construction decision, including evaluation of concentrate offtake, processing alternatives, and staged mine development scenarios. Strategic initiatives include potential phased development of higher-grade T-Zone reserves and continued evaluation of smelting and refining options. The Company also maintains ESG reporting discipline, achieving a BBB rating in its 2025 ESG disclosure assessment, reinforcing governance and sustainability positioning.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Platinum Group Metals Ltd. (NYSE: PLG) at the current market price of USD 2.23, as on Feb 18, 2026 at 6:49 am PST
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Other Precious Metals & Mining
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to EBITDA (x) | |
|---|---|---|---|---|---|---|---|---|
| PLG Platinum Group Metals Ltd |
-0.04 2.67% | 1.46 | - | - | - | 4.34 | -19.0328 | |
| FNLPF Fresnillo PLC |
- -% | 40.93 | 25.98 | 14.31 | 7.92 | 8.03 | 7.56 | 13.08 |
| AGPPF Anglo American Platinum Limited |
- -% | 80.93 | 26.95 | 10.44 | 0.22 | 4.16 | 3.38 | 12.41 |
| ANGPY Valterra Platinum Limited |
- -% | 12.66 | 25.75 | 10.13 | 0.21 | 4.04 | 3.38 | 12.41 |
| BVN Compania de Minas Buenaventura SAA ADR |
-1.66 4.85% | 32.58 | 9.62 | 36.50 | 4.66 | 2.19 | 5.60 | 9.43 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on February 18, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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