CIBC Rates North American Palladium as “Sector Underperformer”

North American Palladium (NYSE:PAL) received a reiterated “sector underperformer” rating in a note issued by CIBC on Wednesday. The company released its latest earnings results on November 5.

As quoted in the publication:

North American Palladium also saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 7,611,464 shares, an increase of 0.5% from the October 15th total of 7,649,326 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average trading volume of 2,233,381 shares, the days-to-cover ratio is presently 3.4 days.

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