North American Palladium Sees Large Decline in Short Interest (PAL)

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North American Palladium (NYSE:PAL) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 8,145,574 shares, a drop of 3.9% from the July 15th total of 8,479,930 shares, AR Network reports. Based on an average daily volume of 2,267,064 shares, the short-interest ratio is currently 3.6 days. Approximately 2.2% of the shares of the stock are sold short.

Separately, analysts at Zacks upgraded shares of North American Palladium from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 22nd. They now have a $0.30 price target on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $0.30.

North American Palladium (NYSE:PAL) opened at 0.2636 on Tuesday. North American Palladium has a 1-year low of $0.23 and a 1-year high of $1.20. The stock has a 50-day moving average of $0.29 and a 200-day moving average of $0.35. The company’s market cap is $101.3 million.

North American Palladium (NYSE:PAL) last announced its earnings results on Wednesday, July 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.01.

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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