Dallas, Texas 07/22/2013 (Financialstrend) – The primary producer of palladium in the US markets, North American Palladium Ltd (USA) (NYSEMKT:PAL) had moved off to decline in the share prices on Friday. The company which had been operating its flagship mine of Lac des Iles located in Ontario, Canada had recently been effective in presenting surge in share prices to attract more investors to the stock. Despite the primary operations in producing palladium, PAL also operates the Vezza gold mine located in the Abitibi region of Quebec and further has operations related to platinum and certain other base metals.
The shares of this exploration and mining firm had recently been surging to new high levels with around 12% returns recorded by the stock in the past one month. Overall, the stock had declined and had been moving in the bearish trend in prices for the past 52 weeks. However, PAL had presented major fluctuations in the share prices with marginal corrections in the months of March and April 2013 to present significant gains to the investors. Recently for the past few days of trading, the stock had been moving upward set up for another correction in the bearish trend.
The stock had moved down by 5.17% to close at $1.10 on Friday, after the opening price at $1.16 per share. North American Palladium Ltd (USA) (NYSEMKT:PAL) had throughout the trading session moved between $1.10 and $1.18 per share and presently has 52 week lowest price at $0.91 and 52 week highest price at $2.28 per share. The market cap of the stock is at $196.43 million with 178.57 million shares outstanding and 21% institutional ownership of capital. The trading volume on Friday was at 2.02 million shares on the stock and the average level is at 1.38 million shares per day.