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

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HSBC set a $23.00 price objective on Impala Platinum and gave the company a “buy” rating in a research note on Friday, January 23rd. Zacks Research cut Impala Platinum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Morgan Stanley raised Impala Platinum to an “overweight” rating in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Impala Platinum Stock Performance

The firm has a 50-day moving average price of $15.76 and a 200-day moving average price 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.