Impala Platinum (IMPUY) Upgraded at Zacks Investment Research

Impala Platinum (OTCMKTS:IMPUY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $3.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.70% from the company’s current price.

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 cut shares of Impala Platinum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st.

Shares of Impala Platinum (OTCMKTS:IMPUY) traded down $0.08 during mid-day trading on Friday, reaching $2.71. 80,444 shares of the company’s stock traded hands, compared to its average volume of 66,902. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.41 and a quick ratio of 1.46. Impala Platinum has a 52 week low of $2.11 and a 52 week high of $4.21.

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Impala Platinum Company Profile

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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