Impala Platinum (OTCMKTS:IMPUY) Trading Up 11.3% – Time to Buy?

Shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) shot up 11.3% during mid-day trading on Wednesday . The stock traded as high as $14.28 and last traded at $14.1850. 141,564 shares traded hands during trading, a decline of 48% from the average session volume of 272,044 shares. The stock had previously closed at $12.75.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Impala Platinum from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.00.

Impala Platinum Trading Down 1.1%

The company has a current ratio of 2.93, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $11.62 and a two-hundred day simple moving average of $14.20.

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.