Zacks Investment Research Upgrades Impala Platinum (OTCMKTS:IMPUY) to Buy

Zacks Investment Research upgraded shares of Impala Platinum (OTCMKTS:IMPUY) from a hold rating to a buy rating in a research report report published on Thursday, January 18th. The brokerage currently has $3.00 price objective on the basic materials company’s stock.

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. “

Separately, Deutsche Bank downgraded Impala Platinum from a buy rating to a hold rating in a report on Wednesday, November 1st.

Shares of Impala Platinum (IMPUY) traded down $0.07 during midday trading on Thursday, hitting $2.41. The stock had a trading volume of 50,452 shares, compared to its average volume of 100,935. Impala Platinum has a twelve month low of $2.11 and a twelve month high of $4.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.41 and a quick ratio of 1.46.

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About Impala Platinum

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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