Impala Platinum (OTCMKTS:IMPUY) Trading Down 11.1% – Here’s What Happened

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) dropped 11.1% during trading on Thursday . The stock traded as low as $12.64 and last traded at $13.20. Approximately 444,763 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 409,368 shares. The stock had previously closed at $14.84.

Analysts Set New Price Targets

IMPUY has been the subject of a number of research analyst reports. Morgan Stanley upgraded Impala Platinum to an “overweight” rating in a report on Friday, January 23rd. HSBC set a $23.00 target price on Impala Platinum and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Zacks Research raised Impala Platinum from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. 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, the company has an average rating of “Buy” and a consensus target price of $23.00.

Impala Platinum Trading Down 8.6%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.74 and a quick ratio of 1.23. The stock’s fifty day moving average is $18.35 and its two-hundred day moving average is $14.52.

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.