Impala Platinum (OTCMKTS:IMPUY) Trading 10.5% Higher – Time to Buy?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY)’s share price rose 10.5% during mid-day trading on Wednesday . The stock traded as high as $16.20 and last traded at $16.10. Approximately 24,568 shares were traded during trading, a decline of 93% from the average daily volume of 332,249 shares. The stock had previously closed at $14.5650.

Wall Street Analyst Weigh In

IMPUY has been the subject of several research analyst 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 lowered Impala Platinum from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Morgan Stanley raised Impala Platinum to an “overweight” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Impala Platinum Stock Up 12.1%

The firm has a fifty day moving average of $15.76 and a two-hundred day moving average of $15.21.

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.