Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) Sees Significant Drop in Short Interest

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 41,597 shares, a decrease of 40.6% from the April 30th total of 70,036 shares. Based on an average trading volume of 318,230 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Impala Platinum from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

Impala Platinum Price Performance

Shares of OTCMKTS IMPUY opened at $13.89 on Tuesday. Impala Platinum has a 52-week low of $7.05 and a 52-week high of $23.50. The business’s 50 day moving average is $14.78 and its two-hundred day moving average is $15.70.

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.