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Shares of North American Palladium (NYSE:PAL) were the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 9,773,331 shares, an increase of 5.0% from the June 13th total of 9,309,160 shares, American Banking News reports. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 7,433,102 shares, the short-interest ratio is presently 1.3 days.

A number of research firms have recently commented on PAL. Analysts at Zacks downgraded shares of North American Palladium from a “neutral” rating to an “underperform” rating in a research note on Monday, June 23rd. 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 assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $0.40.

North American Palladium (NYSE:PAL) traded down 6.50% during mid-day trading on Thursday, hitting $0.3019. 3,765,660 shares of the company’s stock traded hands. North American Palladium has a 52 week low of $0.23 and a 52 week high of $1.27. The stock has a 50-day moving average of $0.3 and a 200-day moving average of $0.41. The company’s market cap is $109.5 million.

North American Palladium (NYSE:PAL) last posted its quarterly 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. Analysts expect that North American Palladium will post $-0.06 EPS 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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