Short Interest in Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) Declines By 40.6%

Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 41,597 shares, a drop of 40.6% from the April 30th total of 70,036 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 318,230 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Impala Platinum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Impala Platinum currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Impala Platinum Stock Down 4.7%

IMPUY traded down $0.66 on Wednesday, hitting $13.40. 81,826 shares of the company’s stock traded hands, compared to its average volume of 297,808. The company’s 50 day simple moving average is $14.78 and its 200-day simple moving average is $15.70. Impala Platinum has a one year low of $7.20 and a one year high of $23.50.

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.