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

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) saw a large decline in short interest in May. As of May 15th, there was short interest totaling 41,597 shares, a decline of 40.6% from the April 30th total of 70,036 shares. Based on an average daily trading volume, of 318,230 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Zacks Research lowered Impala Platinum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Impala Platinum presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Impala Platinum Stock Performance

Shares of Impala Platinum stock opened at $13.89 on Tuesday. The stock’s 50 day simple moving average is $14.78 and its 200-day simple moving average is $15.70. Impala Platinum has a 1-year low of $7.05 and a 1-year high of $23.50.

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.