North American Palladium Sees Large Increase in Short Interest (PAL)
Shares of North American Palladium (NYSE:PAL) were the target of a large growth in short interest in June. As of June 13th, there was short interest totalling 9,309,160 shares, a growth of 15.4% from the May 30th total of 8,067,110 shares, Analyst Ratings News reports. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 4,664,421 shares, the short-interest ratio is currently 2.0 days.
PAL has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of North American Palladium from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $0.40 price target on the stock. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $0.40.
North American Palladium (NYSE:PAL) traded down 10.28% on Tuesday, hitting $0.3167. 7,847,157 shares of the company’s stock traded hands. North American Palladium has a 1-year low of $0.23 and a 1-year high of $1.27. The stock has a 50-day moving average of $0.2 and a 200-day moving average of $0.42. The company’s market cap is $114.9 million.
North American Palladium (NYSE:PAL) last announced its earnings results on Thursday, May 1st. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.02) by $0.09. The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $34.60 million. On average, analysts predict that North American Palladium will post $-0.16 earnings per share for the current fiscal year.
North American Palladium Ltd. (NYSE:PAL) is a precious metals producer that has been operating its flagship Lac des Iles mine (LDI) located in Ontario, Canada.
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