Impala Platinum (OTCMKTS:IMPUY) Shares Gap Up – Here’s What Happened

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $14.17, but opened at $16.14. Impala Platinum shares last traded at $15.93, with a volume of 110,689 shares trading hands.

Wall Street Analysts Forecast Growth

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

Impala Platinum Stock Performance

The company’s 50 day moving average price is $16.86 and its 200-day moving average price is $14.88.

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.