Impala Platinum (OTCMKTS:IMPUY) Shares Down 12.7% – Here’s What Happened

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) shares dropped 12.7% on Friday . The company traded as low as $18.40 and last traded at $18.65. Approximately 651,776 shares changed hands during trading, an increase of 10% from the average daily volume of 594,292 shares. The stock had previously closed at $21.37.

Analyst Upgrades and Downgrades

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

Impala Platinum Trading Down 13.5%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.74 and a quick ratio of 1.23. The company has a 50-day moving average price of $15.92 and a 200 day moving average price of $12.58.

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.