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

Key Points

• Gap down: Shares opened at $13.21 after a $13.90 close and were last quoted at $13.20 on a volume of 85,759 shares, reflecting a notable pre-market drop.
• Analyst views are mixed: Zacks downgraded IMPUY from "strong-buy" to "hold" while HSBC (buy) and Morgan Stanley (overweight) remain positive, leaving a consensus "Moderate Buy" with an average target of $23.00.
• Technicals and profile: the 50‑day SMA is $15.99 and the 200‑day SMA is $15.18; IMPUY is the ADR for a South African PGM miner with core assets on the Bushveld Complex and at Zimplats in Zimbabwe.

Shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $13.90, but opened at $13.21. Impala Platinum shares last traded at $13.20, with a volume of 85,759 shares trading hands.

Analyst Ratings Changes

IMPUY has been the topic of a number of analyst reports. Zacks Research downgraded Impala Platinum from a "strong-buy" rating to a "hold" rating in a research report on Monday. HSBC set a $23.00 price target on Impala Platinum and gave the stock a "buy" rating in a research report on Friday, January 23rd. Finally, Morgan Stanley raised Impala Platinum to an "overweight" rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Impala Platinum Stock Performance

The business's 50 day simple moving average is $15.99 and its two-hundred day simple moving average is $15.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.