Impala Platinum (OTCMKTS:IMPUY) Shares Gap Down – Here’s Why

Shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) gapped down before the market opened on Wednesday . The stock had previously closed at $13.90, but opened at $13.21. Impala Platinum shares last traded at $13.20, with a volume of 85,759 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on IMPUY. HSBC set a $23.00 price objective on shares of Impala Platinum and gave the stock a “buy” rating in a research report on Friday, January 23rd. Zacks Research cut shares of Impala Platinum from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley raised shares of Impala Platinum to an “overweight” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Impala Platinum currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Impala Platinum Price Performance

The stock’s 50-day moving average price is $15.84 and its 200-day moving average price is $15.16.

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.