Impala Platinum (OTCMKTS:IMPUY) Shares Up 11.3% – Time to Buy?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) shares were up 11.3% on Wednesday . The stock traded as high as $14.28 and last traded at $14.1850. Approximately 141,564 shares were traded during mid-day trading, a decline of 48% from the average session volume of 272,044 shares. The stock had previously closed at $12.75.

Analysts Set New Price Targets

Separately, Zacks Research lowered Impala Platinum from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

Impala Platinum Price Performance

The firm’s fifty day moving average price is $11.51 and its 200 day moving average price is $14.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.93 and a quick ratio of 1.36.

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.