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

Shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) 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 Analysts Forecast Growth

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

Impala Platinum Stock Down 8.7%

The stock’s 50 day moving average is $14.80 and its two-hundred day moving average is $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.