Impala Platinum (OTCMKTS:IMPUY) Trading Down 9.4% – Here’s What Happened

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) fell 9.4% during trading on Friday . The stock traded as low as $14.43 and last traded at $14.44. 62,307 shares changed hands during trading, a decline of 85% from the average session volume of 412,900 shares. The stock had previously closed at $15.94.

Wall Street Analysts Forecast Growth

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

Impala Platinum Stock Down 10.6%

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 business has a fifty day simple moving average of $18.51 and a 200-day simple moving average of $14.31.

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.