Zacks Investment Research lowered shares of Impala Platinum (OTCMKTS:IMPUY) from a buy rating to a hold rating in a research report sent to investors on Wednesday 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. “
Separately, Deutsche Bank cut shares of Impala Platinum from a buy rating to a hold rating in a report on Wednesday, November 1st.
Impala Platinum (OTCMKTS IMPUY) opened at $2.65 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.41 and a debt-to-equity ratio of 0.17. Impala Platinum has a twelve month low of $2.11 and a twelve month 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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