Impala Platinum (OTCMKTS:IMPUY) Trading Down 9.8% – Here’s What Happened

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY)’s stock price was down 9.8% during mid-day trading on Thursday . The company traded as low as $16.12 and last traded at $16.36. Approximately 117,487 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 440,327 shares. The stock had previously closed at $18.14.

Analyst Ratings Changes

IMPUY has been the subject of a number of research reports. HSBC set a $23.00 target price on Impala Platinum and gave the company a “buy” rating in a research report on Friday, January 23rd. Zacks Research raised shares of Impala Platinum from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Morgan Stanley raised shares of Impala Platinum to an “overweight” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, Impala Platinum currently has a consensus rating of “Buy” and an average target price of $23.00.

Impala Platinum Stock Performance

The company has a 50-day moving average price of $18.45 and a two-hundred day moving average price of $14.04. The company has a current ratio of 2.74, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.

Impala Platinum Company Profile

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.