Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 66.9% at Impala Platinum, declining from 129,830 shares on September 30 to 42,912 shares on October 15. Short interest now represents approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.1.
• Impala Platinum shares slipped 0.1% to $10.49, well below the 12-month high of $23.50 and its 50-day and 200-day moving averages of $12.85 and $14.30, respectively.
• Analyst sentiment remains mixed: Zacks downgraded the stock to “strong sell,” while the broader consensus is “Hold” with an average price target of $23.00.

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 42,912 shares, a decrease of 66.9% from the September 30th total of 129,830 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 298,589 shares, the days-to-cover ratio is currently 0.1 days.

Impala Platinum Trading Down 0.1%

IMPUY stock traded down $0.01 during midday trading on Thursday, reaching $10.49. The stock had a trading volume of 79,006 shares, compared to its average volume of 246,848. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.76 and a quick ratio of 2.09. Impala Platinum has a twelve month low of $10.04 and a twelve month high of $23.50. The business has a fifty day simple moving average of $12.85 and a two-hundred day simple moving average of $14.30.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Impala Platinum from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $23.00.

About Impala Platinum

Impala Platinum Holdings Limited, commonly known as Implats, is a South African mining and metals company focused on the exploration, extraction, processing, refining and marketing of platinum group metals (PGMs). Its principal products include platinum, palladium and rhodium, along with associated metals such as nickel, copper and cobalt.

The company operates an integrated mining and processing business with assets in South Africa, Zimbabwe and Canada. Its portfolio includes the Impala Rustenburg and Marula operations in South Africa, the Mimosa and Zimplats operations in Zimbabwe, and the Impala Canada operation, which produces PGMs from the Lac des Iles mine in Ontario.

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