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Top Buy and Sell Ideas Based on Big Movers Last Week
Aug. 10, 2011 02:26AM PST
Precious Metals Investing
Seeking Alpha reports on basic materials to buy and sell after this week’s credit rating downgrade.
Seeking Alpha reports on basic materials to buy and sell after this week’s credit rating downgrade.
The market news is quoted as saying,
North American Palladium (PAL): PAL is a Canadian company engaged in the production of palladium and other base metals in two mines in Ontario and Quebec, Canada. Its shares fell 15.5% last week, followed by a 16.9% drop on Monday. There was no company-specific news to account for the decline. At Monday’s closing price of $2.94, PAL traded at a forward 10-11 P/E, while it is projected to go from a 16 cent loss in 2010 to earning 28 cents in 2012. Furthermore, analysts have a mean target of $4.80, and of the four analysts who currently cover the company, two rate it at buy, one at hold, and one at underperform.