North American Palladium Ltd. (PAL) saw a big move last session, as the company’s shares fell by over 12% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for PAL, as the stock is now down nearly 41% since Mar 24.
North American Palladium has seen a flat track record when it comes to current year estimate revisions over the past few weeks (no increase, no decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
PAL currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the mining sector include General Moly, Inc. (GMO), Golden Minerals Company (AUMN) and Platinum Group Metals Ltd. (PLG). While General Moly carries a Zacks Rank #1 (Strong Buy), Golden Minerals Company and Platinum Group Metals hold a Zacks Rank #2 (Buy).
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