Zacks Investment Research downgraded shares of Impala Platinum Holdings Limited (NASDAQ:IMPUY) from a buy rating to a sell rating in a research note published on Thursday morning.
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. “
A number of other analysts have also recently issued reports on IMPUY. Royal Bank Of Canada cut Impala Platinum Holdings Limited from a sector perform rating to an underperform rating in a research report on Monday, October 17th. Goldman Sachs Group Inc. raised Impala Platinum Holdings Limited from a sell rating to a neutral rating in a research report on Tuesday, November 15th. Finally, RBC Capital Markets cut Impala Platinum Holdings Limited from a sector perform rating to an underperform rating in a research report on Monday, October 17th.
Shares of Impala Platinum Holdings Limited (NASDAQ:IMPUY) opened at 3.368 on Thursday. Impala Platinum Holdings Limited has a 52-week low of $1.45 and a 52-week high of $5.23.
Impala Platinum Holdings Limited Company Profile
Impala Platinum Holdings Limited is a producer of platinum and associated platinum group metals (PGMs). The Company’s segments include Mining segment, Impala Refining Services, Chrome processing and Other. The Company’s Mining segment includes Impala, Zimplats, Marula and Afplats. The Company has six operating units: Impala, Zimplats, Marula, Mimosa, Two Rivers and Impala Refining Services.