Impala Platinum (OTCMKTS:IMPUY) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $13.11 and traded as low as $10.51. Impala Platinum shares last traded at $10.56, with a volume of 144,783 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Impala Platinum from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Impala Platinum Trading Down 6.3%

The company’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $13.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.09 and a current ratio of 3.76.

Impala Platinum Company Profile

Impala Platinum Holdings Limited, commonly known as Implats, is a South African mining and metals company focused on the exploration, extraction, processing, refining and marketing of platinum group metals (PGMs). Its principal products include platinum, palladium and rhodium, along with associated metals such as nickel, copper and cobalt.

The company operates an integrated mining and processing business with assets in South Africa, Zimbabwe and Canada. Its portfolio includes the Impala Rustenburg and Marula operations in South Africa, the Mimosa and Zimplats operations in Zimbabwe, and the Impala Canada operation, which produces PGMs from the Lac des Iles mine in Ontario.