Weakness Seen in North American Palladium (PAL): Stock Tumbles 10.6% - Tale of the Tape
February 03 2014 - 7:52AM
Zacks
North American Palladium (PAL)
saw a big move last session, as the company’s shares fell nearly
11% 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 recent downtrend for PAL, as the stock is now down nearly 48%
in the past one-month time frame.
The company has seen a mixed track record when it comes to current
year estimate revisions over the past few weeks. Two estimates were
revised lower while there was no upward revision. 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 on this firm in
the near future, and especially on earnings estimates following the
recent slump.
PAL currently has a Zacks Rank #4 (Sell) while its Earnings ESP is
0.00%.
Some better-ranked stocks in the basic material sector include
Stillwater Mining Co. (SWC), Denison Mines
Corp. (DNN) and General Moly, Inc. (GMO).
While Stillwater Mining carries a Zacks Rank #1 (Strong Buy),
Denison Mines and General Moly hold a Zacks Rank #2 (Buy).
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