North American Palladium Ltd. ( PAL ) was a big mover last session, as its shares surged roughly 24% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down almost 35% in the past one-month time frame.
This mining company witnessed two positive estimate revisions in the last 30 days and its Zacks Consensus Estimate also moved higher over the same timeframe, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday's jump can translate into more strength down the road.
North American Palladium currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the basic materials sector include Rio Tinto plc ( RIO ), Solitario Exploration & Royalty Corp. ( XPL ) and BHP Billiton plc ( BBL ). While Rio Tinto sports a Zacks Rank #1 (Strong Buy), Solitario and BHP are Zacks Ranked #2 (Buy) stocks.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.