Impala Platinum (OTCMKTS:IMPUY) Shares Gap Down – Time to Sell?

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.8828, but opened at $14.6725. Impala Platinum shares last traded at $14.44, with a volume of 69,406 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IMPUY shares. Zacks Research lowered Impala Platinum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Morgan Stanley upgraded Impala Platinum to an “overweight” rating in a research note on Friday, January 23rd. Finally, 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. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Impala Platinum currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Impala Platinum Trading Down 9.0%

The company has a fifty day moving average of $15.21 and a two-hundred day moving average of $15.43.

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.