Impala Platinum (OTCMKTS:IMPUY) Trading Down 4.5% – Here’s Why

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY)’s share price was down 4.5% during mid-day trading on Wednesday . The company traded as low as $10.71 and last traded at $10.85. Approximately 37,598 shares were traded during trading, a decline of 88% from the average daily volume of 306,532 shares. The stock had previously closed at $11.36.

Wall Street Analysts Forecast Growth

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

Impala Platinum Stock Performance

The stock has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $15.76.

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.