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

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.97, but opened at $10.45. Impala Platinum shares last traded at $10.27, with a volume of 55,117 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research cut Impala Platinum from a “strong-buy” rating to a “hold” rating in a research 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 company. Based on data from MarketBeat, Impala Platinum currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Impala Platinum Stock Performance

The business’s 50 day simple moving average is $13.02 and its 200 day simple moving average is $15.55.

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.