Impala Platinum (OTCMKTS:IMPUY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $3.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.70% from the company’s previous close.
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 Impala Platinum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st.
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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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