Impala Platinum (OTCMKTS:IMPUY) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up before trading, opening at $16.27 vs a prior close of $15.34 and last trading at $17.13 on volume of 69,936 shares, roughly an 8.1% increase.
• Analyst sentiment has turned positive — Morgan Stanley upgraded to overweight, HSBC set a $23 target with a buy rating, and Zacks moved to strong-buy, leaving an average rating of "Buy" and an average target of $23.
• Impala Platinum is the ADR for a South African mining group focused on platinum-group metals (platinum, palladium, rhodium, etc.), with principal operations on the Bushveld Complex in South Africa and at Zimplats in Zimbabwe.

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $15.34, but opened at $16.27. Impala Platinum shares last traded at $17.13, with a volume of 69,936 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IMPUY shares. Morgan Stanley upgraded shares of Impala Platinum to an "overweight" rating in a research note on Friday, January 23rd. HSBC set a $23.00 target price on shares of Impala Platinum and gave the company a "buy" rating in a research note on Friday, January 23rd. Finally, Zacks Research upgraded shares of Impala Platinum from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $23.00.

Impala Platinum Stock Up 8.1%

The firm's 50-day simple moving average is $16.37 and its 200-day simple moving average is $15.02.

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.

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