North American Palladium Ltd. (PAL), producer of precious metals is an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PAL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that North American Palladium could be a solid choice for investors.
Current Quarter Estimates for PAL
In the past 30 days, 2 estimates have gone higher for North American Palladium compared to no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 6 cents a share 30 days ago, to a loss of 5 cents today, a significant move.
Current Year Estimates for PAL
Meanwhile, North American Palladium’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 13 cents per share 30 days ago to a loss of 9 cents per share today, a significant move.
The stock has also started to move higher lately, adding 18% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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NORTH AMER PALLADIUM LTD (PAL): Free Stock Analysis Report
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