Zacks Investment Research downgraded shares of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) from a hold rating to a sell rating in a research note released on Wednesday.
According to Zacks, “Impala Platinum Holdings Limited is in the business of mining, refining and the marketing of platinum group metals, especially platinum, as well as nickel, copper and cobalt. Implats is also involved in the secondary sourcing of material through Impala Refining Services which enables it to capitalise on the group’s competitive advantages in processing and refining. The group’s operations on the Bushveld Complex in South Africa (Impala Platinum, Marula Platinum, the Leeuwkop project and Two Rivers) and the Great Dyke in Zimbabwe (Zimplats and Mimosa) give it a significant base of attributable reserve and resource ounces of platinum. Implats also has investments in Aquarius Platinum Limited and its subsidiary Aquarius Platinum (South Africa) Limited which have PGM operations in southern Africa. There are also offshore exploration projects in Botswana, Mozambique, Madagascar and Canada. “
Several other research firms have also commented on IMPUY. Deutsche Bank AG upgraded shares of Impala Platinum Holdings from a sell rating to a hold rating in a research note on Friday, March 17th. ValuEngine lowered shares of Impala Platinum Holdings from a hold rating to a sell rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock currently has a consensus rating of Sell and an average price target of $4.50.
Impala Platinum Holdings (IMPUY) opened at 2.75 on Wednesday. The company has a 50-day moving average of $2.90 and a 200-day moving average of $3.34. The company’s market capitalization is $1.97 billion. Impala Platinum Holdings has a 1-year low of $2.53 and a 1-year high of $5.23.
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About Impala Platinum Holdings
Impala Platinum Holdings Limited (Implats) is a producer and supplier of platinum group metals (PGMs) to industrial economies. The Company’s segments include mining (which includes Impala, Zimplats, Marula and Afplats), refining services (which include metals purchased and toll refined), chrome processing and other.
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