Impala Platinum (OTCMKTS:IMPUY) Shares Gap Down – Should You Sell?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) shares gapped down before the market opened on Friday . The stock had previously closed at $13.31, but opened at $12.40. Impala Platinum shares last traded at $12.2478, with a volume of 163,905 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Impala Platinum from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Impala Platinum Price Performance

The stock has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $15.75.

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.