Impala Platinum (OTCMKTS:IMPUY) Trading Down 6% – Should You Sell?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) traded down 6% during mid-day trading on Tuesday . The company traded as low as $13.7850 and last traded at $13.85. 48,062 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 382,038 shares. The stock had previously closed at $14.73.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Impala Platinum from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Morgan Stanley upgraded Impala Platinum to an “overweight” rating in a report on Friday, January 23rd. Finally, HSBC set a $23.00 target price on Impala Platinum and gave the stock a “buy” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, Impala Platinum currently has an average rating of “Buy” and an average price target of $23.00.

Impala Platinum Stock Down 5.2%

The company has a 50-day moving average price of $17.03 and a 200 day moving average price of $14.86.

About Impala Platinum

Impala Platinum (OTCMKTS:IMPUY) is the U.S. American Depositary Receipt program for Impala Platinum Holdings Limited, a South African mining group specializing in the extraction, processing and marketing of platinum group metals (PGMs). Headquartered in Johannesburg, the company’s core products include platinum, palladium, rhodium, ruthenium and iridium, with byproducts such as nickel and gold. Impala Platinum’s integrated operations span the full value chain from underground and surface mining to smelting and refining.

The company’s principal mining assets are located on the Bushveld Complex in South Africa and at the Zimplats operations in Zimbabwe.