Impala Platinum (OTCMKTS:IMPUY) Trading Down 6% – Should You Sell?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) fell 6% during mid-day trading on Tuesday . The stock traded as low as $13.7850 and last traded at $13.85. 48,062 shares were traded during mid-day trading, a decline of 87% from the average session volume of 382,038 shares. The stock had previously closed at $14.73.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IMPUY. Morgan Stanley raised Impala Platinum to an “overweight” rating in a report on Friday, January 23rd. Zacks Research upgraded Impala Platinum from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Finally, HSBC set a $23.00 target price on Impala Platinum and gave the company a “buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.00.

Impala Platinum Stock Performance

The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $14.86.

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.